We could be wrong, but it doesn't seem likely.Carini did the math for you early, if after repairs it assess for 240k as you suggest, you'll be able to refinance and pull out 187k, of which about 116k will go to paying off your previous mortgage leaving you with 71k to go plan your next move.This is very compatible with living in the house and getting roommates. 

There are $400/hr consults who can assist with almost every topic on these boards.Also, just for your information, I do plan to ask an attorney to review the final document but was curious at a high level if it's even worth exploring this opportunity.Good luck to you sir.

If you plan to stay there a long time 10+ years then likely the value will be the same or likely greater even if prices soften in between.

Hello, Lee Israelsen, when you build a house and include a basement apartment that you plan to rent out, you may be able to write off a portion of the expenses associated with the construction and ongoing maintenance of the rental unit.

We live near a lot of hospitals and are planning on using this money to buy small multifamily properties and renting them medium term with traveling nurses. 

Investing in Ohio, specifically Cleveland,  is a great idea in my opinion.Recently, we have been breaking grounds on large development plans such as the Cleveland Cavalier's Perfomance Center, Blue Abyss aerospace training facility, Sherwin Williams HQ, and not to mention the multi million dollar Metro Health development that was completed recently that has just started adding rapid appreciation in the Clark-Fulton area.These projects will only increase demand and most are in the beginning phases.  

This skill is massively important for flipping RE which we plan to do in the future.

None of my business, but I don't think he was doing what most wholesalers plan to do.  

There is a small window.My plan was to either add a bulkhead entrance or create an escape window.

Would like to know your comments and share our plans moving forward.