Based on the numbers seems like it was a straight forward conventional loan...any challenges?

They then missed out on several more years of growth because they got out of the game and waited on the sidelines for things to look better. 2010 to 2012 was the period that cash investors were the players or those with IRA keep in mind investor loans were still basically non existent in those years for all those expect very well to do Investors beginners were not getting investor loans. 

In Ca many loans are done through fractionalization method which is not that common in other states and illegal in some.

Maintenance and potential repairs will also require a long-term financial plan and setting aside a contingency fund for such expenses.The steady cash flow, appreciation over time, and tax benefits can make a meaningful difference to your wealth in the long term, especially with the principal paydown on the mortgage.However, if managing the property from a distance feels too burdensome, or if you’d prefer the certainty and flexibility that comes with having less debt (especially given the high mortgage rates), selling and using the $100,000 in equity to reduce your loan for your next home may be the smarter move.

That is usually how they determine your LTV (Loan To Value).1.

Credit Unions are pretty great, as in my experience, commercial loan renewals tend to be automatic.

Meeting a 20% down payment to avoid PMI seems manageable, although would take a big chunk of my liquid net worth, and I prefer this route over using an FHA loan.

@Jerry Tello I should have mentioned the laws and how they affect your returns vary tremendously from state to state, and sometimes county to county.

I read that one of the requirements for getting your second FHA loan is having a change in family size.

Refi the house so they can continue to live in it, they will get the best loans on their primary residence.