I calmly explained to him several times that it was his error that he could not deliver the loan as promised, and he had to find a lender with less favorable terms.

Do yourself a favor and screen tenants before you give them the keys to your apartment.  

Some of which the poster knows and she didn't mention (in favor of Maverick), and some she doesn't know about yet.

Memo 2012-243, you will see that simply holding property greater than 12 months is not a great enough influence on overall intent to retain "investment" status and receive the favorable capital gains treatment.

Their offers tend to be favorable.

I would favor keeping enough cash or instant credit (think LOC) to be able to purchase your target projects for cash one at a time.  

I hope things work out in your favor!

Cash flow the new loan to pay it off at the same pace and you accomplish both goals and only have 1 Lien on your property, at more favorable rates than you will get with a 2nd.

Louis but the areas are involved in some non-favorable legislative disputes. 

If you are looking to sell, the Holidays can also work in your favor if you are patient.