If they just bought something already cash flowing there was not any value to extract.

In fact, there have been several reports which liken it to the payday loan industry in the loose and quasi-ethical manner in which it operates and the fees extracted for the level of service provided.  

They promote creative ways to extract revenue from landlords and tenants.

Tax time was a pain since I had to extract the info from Quickbooks, often using Excel to add items up...  

So if we extract the information around the balance and equity the first lien has an unpaid balance of $225k and we don't know what additional interest and fees add up to on top of that.  

In addition to the Online Application and Tenant Screening services, CheckPoint provides a Lease Generation Feature that auto-populates leasing forms by extracting information from the application.

There's an excel formula for extracting the first word in a text string but I haven't found one that works for the second word.  

Sooo in an effort to extract some benefit from this thread let me ask.

Did you try the services of a professional carpet cleaning service that has truck mounted water extraction equipement?

If you are extracting the money for a new investment, then of course the calculation is a lot different.Given that you have rental properties, you want to be sure that you have enough income source to qualify for the refi.Generally speaking it makes sense to refi a 1st and 2nd (especially given the size of your 2nd) into a single loan.Please PM me if I can answer additional questions.Upen PatelMortgage Banker