JD Martin (Moderator) - Investor from Northeast, Tennesseereplied about 11 hours ago Originally posted by @Chris Masons : @Maugno MoraYou will at some point be forced to at the least snake it which can be challenging sometimes or at worst replace it.Man, if you could invent a snake that could clear 1/2" galvanized you'd be a rich man!

Other possibility, the moderator closed her account due to trolling, or violation of Bigger Pockets policy.Terry

If your current property is only cash flowing moderately well, then I'd say 1031 that $419k of value (you must maintain the same value in new props AND at least the same amount of equity) into a couple cash flow properties in more stable markets with lower entry prices.

It's a more of a cash flow area with little/moderate appreciation.

Renovation level is moderate.  

@Justin R.Your CPA is being moderately conservative, and your QI is being extremely conservative.Nothing is wrong with either approach - as long as you knowingly choose the relative safety of a conservative approach over the financial benefits of a more aggressive approach. 

House will rent for 1550Scenario 1: Pull 85% out, This would leave me with $8,700 cash in my pocket - Mortgage +T+I+HOA = $1,276.Scenario 2: Pull 80% out, I am left with $506 in my pocket - mortgage of $1,223The house is on the newer side so repairs should be moderate, and I plan to property manage it myself for now, but will build that into the equations since i want to eventually get out of Property management.  

If you dont know what to do, Look for a cashflow 101 meetup on the meetup.com website and call the moderators to see if any of them will partern with you. 

I've read several different places that $30-35/sqft is a good starting point for a gut job flip and $20/sqft is a good approximation for a moderate flip where some systems (roof or ac) are ok, so depending on condition, I'll multiply either $35 or $20 x (2/1 house sqft) and then add $50,000. 

On the other hand, it can fund moderate renovations, it seems.