Steve has a point, much can be reduced, but let's not confuse "relationship banking" with a good banking relationship, that doesn't add value for the bank in that respect.

Dash, with respect to cash-out refinance, it's quite popular with buy-and-hold properties, but not so much with flipping.

I also want respectable roommates who are easy to live with.What would you "cave" on if renting out rooms in your own house?

But Texas in general is a more "slow and steady" atmosphere in respect to property value increases.

I respect your knowledge.

In some respects I feel like I'm tripping over myself, meaning that the "problems" I'm facing are not real problems at all, just a lack of insight into exactly what my possibilities are.

Being able to buy with enough equity spread to sell the property at or slightly below market value and still make a respectable profit even if I have to discount it a little to move it.

Originally posted by David F:...Basically, I would be dishing out 100% of the purchase price for the property while he would take a 50% private mortgage from me at 6% amortized over 25 years. ...Just to get the semantics correct with respect to giving and taking when it comes to mortgages: The borrower GIVES a mortgage, the lender TAKES a mortgage.

With respect to your second point, it's a matter of principle.

See things most people never get to and learn a little discipline and respect along the way....