Here is the story:We sold a portfolio of rentals to a single buyer and part of the deal is we held back a 10% mortgage. 

Welcome to BP.

I appreciate all of the detail but what information was provided to the agent that wrote the policy?  

Quote from @Bruce Schussler: A lot of Podcasts and Youtuber's say to cash-out refinance to keep rents balanced with payment; (PITI) then use those funds strategically to re-invest either in more real estate or just put into a high interest bearing account or money market account...Here's some of my thoughts and comparisons;Cash-out refinance with new loan so rents balance with payment:- The cash-out refinance is 100% tax free- The funds can be put into a money-market account off-setting a portion of the interest charge of loan- The loan balance gets eventually destroyed by inflation- The liquid cash eventually gets destroyed by inflation - The interest on the new loan can be deducted from the rent income- The refinance costs are 3-4% of the total- There is less equity in the property and LLC that can be attached in case of a lawsuit- The break-even on cash-out refinance with current interest costs on the new loan is around 12 years Vs.Paid-off property with positive cash flow:- The positive rent income is 100% taxable minus only depreciation and property tax- There is more equity in the property and LLC that can be attached with a lawsuit- The break even is not until after 12 years at today's interest rates- There is a rate risk in today's inflationary environment where interest rates on bonds keep rising*It appears to me that the cash-out refi is in the best interest for a property investor; (Dave Ramsey would strongly disagree!)

I have a tenant in Maine who refused to leave after her lease expired, and multiple notices were given saying she needed to leave after it expired. 

Best thing would be to get started hustling for another wholesaler to see if it really is what you think it is.The only way to be a good wholesaler is to build relationships with sellers, know repair costs and ARV, and understand that each seller has a problem to solve and do not need a cash offer.

Hi John, feel free to reach out if you are looking for some additional options on your DSCR loan!

I'm starting to investigate more creative financing options to scale faster in 2025 - 2030.

@Tinia JamesIf you receive a 1099 showing income from one of your deals, you have to file a Schedule C to report that income.

Listing immediately at a bit of a discount to fill it quick on ST leases to reup in spring.