I consider any tenant that pays late as a bad tenant and prefer that they be afraid of me .

talk to Peak Asset Lending in KC  @Alexander Felice  banks generally wont fool with stuff this low unless you have existing relationships with them.. the cost and risk of having a default far out weight what a bank can make on a 15 to 20k mortgage.but i have seen small local commerial banks do these for local citizens that own 10 to 50 homes and its their cottage industry so to speakI have NINE loans under 75K and I work at a bank, while it's true banks would prefer to do larger loans, they do small ones every single day. 

@Kristina Lugo I prefer the cash out refinance in your situation because this allows you to delete the PMI forever which raises your cash flow substantially.

Be sure to include a written statement that you are happy to pay the non-seller his/her 50% of the annual rental value -if they prefer to vacate the house and leave it to you. 

Good morning BP,My wife and I are newbie investors here in the Buffalo, NY area and looking for referrals for a good Real Estate Attorney - preferably local. 

Being a Realtor, I prefer negotiating with other Realtors.

The bank I am working with prefers to lend on an occupied building with leases. 

Do you prefer to be passive or active?

So I took more of an economic approach then I added some personal preferences. 

Work with real estate agent to find  rental property somewhere I’d like to live (for a year minimum) Preferably with vetted tentats already living in it.3.