My question is, how do I take money out of the property or leverage the property so I can buy the next one? 

What do I need to look out for with a property from this era? 

I don't like all the email junk BUT I do get it because it keeps your name in front of them.

Terry,Have you weighed out the pro's and con's doing a fix & flip and capital gains versus fix and hold long or short term rentals?

You need people though to get the confidence to do it, not money.

Many times, if you wish to hold the title in the name of an LLC, you may end up with less favorable terms or even find that it's not allowed.If you do find a loan program that permits taking the title in an LLC, it's essential to consult with your attorney and accountant to understand how to proceed.

Plenty of people do it, but not 100% easy street.Good luck and best wishes.

The collections agency we use currently says that without an application they can't do anything.

Also a side question: Do you buy Umbrella policy coverage amount 'equal' to the total amount of all your investment properties and personal net worth?   

It has been doing great as an STR for the last two years.