The property isn't condemed but I am not sure what "liveable" translates into.

Your post says this is a 2-unit. which translates to "rental" to me.

I have targeted absentee owners and will send out 500 YL's every other week for the next 3-4 months.In regard to my YL, I've seen a few sample Yellow Letters I could have used but decided to just create one pieced from similar YL's out but slightly altered it to the time of year.

It has occurred to me the small revenue increase could actually translate into a loss.

Of course that also translates to downward pressure on rent prices.

Careful, don't do anything to alter your rent agreement.

This savings could translate into a higher return on your time since if you paid back your 49,200 and only have 20k left @12% interest lets say your month cost to hold the property is not substantially less in the absence of obscene closing costs or points.Option B:This may be an investors dream cash back 45k in your hands and a property with no skin in the game "infinite return," assuming you still cash flow with 120k of leverage on the property.A tenant would be paying your mortgage, taxes, insurance, and etc while you've retained the property, received 45k non taxable proceeds from the refinance since the asset has not been sold, and potentially making some income each month if the numbers work.120k @30 year fixed 5.625% is only about 690.79 per month and taxes and insurance I'd wager (depending on state) is probably 130 more.

If they were "alter boys" there would be no reason to not put them on the original application or lease.

Usually flood zone boundaries and or elevations are altered due to new construction in the area, which may be alterations to the stream upstream (i.e. building higher dikes, etc.), widening the stream below you are two such examples.

This is all on a good tenant application (Westside rentals website has one that I altered).