If you run your own consulting business, a few bad business decisions can make 'extra money' go away.Hire my IT firm as a subcontractor, pay us $20,000 to back up your PC.

Steven,You make great points and I've thought about it, but truth be told, I'm still a very inexperienced investor still trying to learn what I could do and ect.By savings, are you referring to just a regular SA (Savings Account) or CD's, or other types of savings with investment in funds or stocks?

If wholesaling is your initial strategy, I would suggest you dive into the wholesaling forum and read the posts in there, particularly "The Truth About Wholesaling"Many rookie mistakes are made with that strategy, so educate yourself and avoid such mistakes.

But the truth of the matter is that these borrowers own prime properties and are happy with under 50% LTV, and hence the lower rates/points.Amir

I was just factoring in extra dollars to pay for eliminating the smell

No extra paperwork is needed, it is assumed that the new owner inherits existing tenants/leases.

That is essentially what you would be doing by refinancing the existing residence.In addition, at your option, you could turn that extra cash flow into the property paying it off even sooner than you can right now at the same monthly break-even to loss situation.4 points seems very high.

I feel very fortunate, truthfully, to have found this site and all the really great people always willing to help teach others.

I think I would be sure to take someone along as there is some safety in numbers.. especially if you come with an extra person unexpectedly.

I am sure the extra $150 upset you but if you really understood the situation it is probably a good thing for the consumers in your state.