I think this depends on your risk tolerance and your interest rate.  

I think I know enough people with funds to jump in if the first deals get bigger than my pockets. 

I paid about $1500 in closing costs between title, appraisal, etc, but the original loan was wiped out in favor of a new lower rate. 

Quote from @Stacey Wells: Hey everyone,I’ve been researching different funding options for real estate investments and business expansion.

Or you could wire all the funds to there escrow acct, bid and pay if you win, then request the remainder of funds to be refunded. 

It's best to invest in a company/fund that does this for you. 

The "variables" you speak to could mean this is worth every cent of a 5.4% cap rate to "I wouldn't touch this for a 12 cap".  

Nothing illegal about doing that, but if caught, the lender may call the loan due and if you don't correct the situation or pay the loan off, they willstart mortgage foreclosure.3) You could also go the HELOC route to tap the equity in the home, but the 12-month owner-occupancy will also apply AND the interest rate on the HELOC will fluctuate with the Fed Fund Rate.4) You could do a cashout refi as an investment property, but that will be at an interest rate 0.5-1% higher than owner-occupied rate.Suggest you meet with 2-3 lenders to explore your options about the above.Once you have access to funds, recommend you buy a 2-4 unit with 20-25% down. - You can buy owner-occupied, live in one unit, and fix up and rent the other unit(s).- If you're handy, recommend buying a property in the worst condition you can tolerate.

The loan has come to term and they can’t maintain the property and the current interest rates.

Right now, you have a property with a great equity position, solid cash flow, and cheap debt (interest rate is low).