It is no longer yours.

No, in this particular case it's not 700k property being sold as 500k if it's offered cash.Cash offer in my case helps with 30-40k.

One thing I am curious of - typically many of the hard money lenders will charge a 1-3 year pre-payment penalty in these types of scenarios unless your client paid points to not have that pre-payment penalty.

Prepayment Penalty: None.

In the past, I cashed out my 401K(Paid income tax + Penalty).

Prepayment penalties- usually 1-5 year terms.

@Duke Butterfield no one can really answer whether or not real estate is a good choice for you - except YOU!

But don't let them know it.It amazes me how many of our members at MassRealEstate dot net have an Asset worth $300-500k Rent it for .5-1% of value and hardly pay attention to it, yet chase a tenth of a percent in CD rates;-)

Also - the no taxes on tips is not currently law.  

So I’ve read that unbrella insurance providers require you to use them for car and home. I am a land lord but don’t own my residence.What are my options?