with such a low loan balance the difference in rates with no fee's is probably not that astronomical.and if it still works IE the tenant is paying off your mortgage .. then who cares really.

The thing that is difficult right now is knowing that if you can only put down 3.5% for an FHA loan, it will be hard to find a property that will cash flow.

@Kristopher Edwards It's incredibly difficult to use a VA loan to buy a distressed property.

I was looking for small multi-families in the Hamilton, Bordentown, Ewing and Lawrenceville area's and found it extremely difficult... 

Each fluctuates regularly so it's really just about maintaining that balance between the three as best as you can.

Combine that with the $10k we will have payed off over the 2 years on the balance, and the $10k back that we put into it and we should have around $55k to use towards our next venture.  

Dave Ramsey would say pay the smallest balance off first then the second largest, and on and on.

There is a delicate balance there.

Us New Yorkers are grateful to live in a great city...however, it can be a difficult city to invest in real estate.

Now, at end of job, the lender refused to reimbursed me the money I paid the new contractor, They are considering any amount in escrow as "unsused fund", and want to apply it to the mortgage balance.