I inquired about this a couple months ago and the mortgage broker from PNC Bank told me you can do an FHA Cash out Refi with a 80 percent LTV on the ARV after 6 Month as long as your credit is above 700

To get rich, market to the people with the highest lifetime value for your business.

That way you could get rates as low as 2.5ish percent, or better if you have a high volume of transactions.Also, with a real merchant account through a big institution (like Chase), they deposit funds next day so if you received $1000 credit card payment from tenant on the 1st, they deposit $1000 in your account on the 2nd.

I really do not expect the properties to appreciate a lot in my lifetime because they are near a salvation army and manna house.

The rate is usually about half a percent higher for investment property.Kristine - Investment property is an investment property.

I bought 5 properties last year with a CAP rate of around 4-9 percent.

Blend that percentage and long term that should get you 7-8 percent.

I am financing conventional 20 percent down.

Even at 50% of rents (which put's it close to $15k expenses) you are still at a cap rate of 14.75 percent which is very good.

A lifetime of bad choices will make you arrive in one place, and a lifetime of good choices will help you arrive in another place....agreed?