The process took 2-3 years, I was not in a hurry, busy with my corporate career and rather cash strapped.I forget the refinancing fee, but it was minimal.

We are not first time home buyers but have three single family homes ( rental) properties in California but want to buy our first apartment complex out of state for generating  cash flow for the long term.

Unless you're paying cash, something to consider.

In the mean time 100% of the owners ability to touch any cash is eliminated.

I’m looking to buy some single or multi family units for long term rentals that would provide at least a moderate degree of cash flow.  

Purchase price: $116,000 Cash invested: $27,000 Sale price: $187,500 Replaced kitchen, updated bathroom, drywall repairs, paint and flooring.

I'm grateful that I sold all of my class C buildings over the past several years, even though they were supposed to cash flow better than the class A buildings, they never did and the rent and value appreciation wasn't nearly as good either.

You won't get the funds back as cash.

These are real costs that hit your bottom line whether you like it or not.The biggest mistake I see from new investors is taking the revenue and minusing the mortgage payment and calling that cash flow.

They could also use the bathtub to dissolve the body of their grandmother while they continue cashing her social security checks.