It exists for a good reason.Finally, if the bank decides to honor the tenant's dispute, we (Cozy) have to attempt to collect lost/disputed payments from a landlord because they are the merchant and the intended recipient of tenant's payments.

Ideally the want to give me a Gift of Equity (market value - remainder of existing mortgage) as a down payment.

The title company uses that to pay off the existing mortgage, and you get clear title. 

Both of my properties have existing mortgages in first position and the existing first mortgage lenders are recommending a cash out refinance.

Scenario 2:Buy a multifamily in an outer borough of NYC probably in the Bronx, Pelham or Queens..Pros- Be able to use an FHA loan to invest- Live on the property that I am refurbishing and investing in.Cons- Quintiple my commute time (45min to an hour on the train or subway depending on where I invest)- Most likely partner with someone on the investment rather than own it myself- Perhaps be buying into a saturated market.Concerns:Should I increase my commute by an hour just to get into Real Estate Investing? 

Im looking for a good  real estate attorney who specializes  in real estate investing and has experience doing subject too existing finance deals...

My focus is on decreasing maintenance, improving efficiencies and maximizing income on my existing investments.

@Michael Fratalia ULI is by far and away one of the best organizations and events in existence.

Should I take out a traditional mortgage (conventional loan) or use the equity in my existing home (Equity Loan/Heloc) to purchase this other property?

buying an existing mobile home already situated in a park?