I'd borrow Canada or New Zealand's immigration policy (i.e., you need to qualify in order to come to our country).

We have no other debt.My question is whether it makes more sense from a financial point of view to pay down either of the houses or whether we should look into buying a property that does have a positive cash flow (there seem to be quite a few available in the Reno area) and use the left over equity from our Reno property to do so.I don't like the idea that we are stuck with the Las Vegas property at this point and would logically conclude that paying down that property until we have a situation where the equity is at least zero is the first priority.

There WILL be policy change coming on housing for owners who have held there own, good payer relief, it is so politically charged that it is a certainty now.If you can hold it a-ok, I would strongly urge you to wait for the relief policy that will be coming soon, then take advantage of it.

Will they issue a title policy excluding this matter?

I didn't do an application or credit check, and said to him something to the effect 'you may be able to live for free if you get a decent roommate you can tolerate...'

I even spoke directly with the asset manager and they didn't have a good answer other than the policy of cash only for the property was set before it was listed.Now, I don't have the cash to buy directly, otherwise I would then refinance out.

Once I retire (1.5 yrs) I can be more active but could use cash flow now and I am more bankable now with a job.David, I imagine I could do this myself but starting at ground zero requires lots of research.

At the end of the 4 years I will have converted approximately $60-80k of housing allowance to approximately 25% equity on a 30-year note [minus taxes, repairs, incorporation expenses, etc].Then, the gray-area: I have some cash on hand, and zero debt.

I'm pretty tolerant to both, but it is definitely not as cold as Chicago or as hot as Texas.

And are you specifically referring to ONLY California because I have had ZERO problem with simultaneous closings in Texas (did one yesterday) and have heard little issues from anyone else in any other states?