When I'm not working, I love to be out on the water in the summer, fishing, boating and enjoying life.

My goals are to simply buy property, both Multi-Family Units and SFR's, and create a passive income stream to help me with my goals of going back to school and creating something bigger with my life.

The best loan would be a 20-30 yr ARM, 80-85% LTV, with an annual/life increase limit of 2%/6% (I've seen 2%/5% as well, but much less common).

This makes my life a little easier when it comes to dealing with the tenants.

If they then tell you about extraordinary circumstances you can decide if you want to accept it or not.Paying bills and being responsible is a basic life skill and I don't have time to deal with people that can't function on their own and need me to babysit them.

Hi Jason,An alternative (real life) scenario for you on the purpose of cash-out refi.

Howdy folks, I just joined BP to help start my new adventure in life.

Hi all,I began investing years ago, have a few rental properties, but have since gotten deterred by "life".

@Brant Richardsonsaid I well, while both are hard work, flipping will definitely provide you with large sums of cash at closings, but the passive income from buy and holds can create a very nice life.

We are considering (in no particular order) 1)title transfers to even things out, 2) sell my share of ownership of our company where he would outright own the 5 homes that are in his name & I do the same for the home in my name, 3)put 3 homes in the LLC and put the next home in my name, making it owning 2 homes each, with 3 in our company to even things out.It should be noted that I trust my life with this guy, he's my best friend & we both want whats best for each other & will be meeting with our attorney, who has a real estate background, this coming Wednesday.What would you do in my shoes?