@Eric Bilderback For the borrower to eligible for cash out refinance  the borrower must have held legal title to the lot for at least six month prior to closing of permanent mortgage before cash out. 

Finding and empowering people to do their particular jobs well is an absolute must in the real estate game.

That person must be sponsored and employed by a sponsoring broker.Only exemption would be an onsite residential manager engaged in leasing activities.

This would allow my family to continue to visit me and when they leave I can continue with Airbnb.

I pay the water bill and send to the tenant who must pay with the next rental payment.

Hey BP question:Have you ever purchased a investment multifamily property with a 3 year must owner occupy stipulation demanded from the city?

If you want to remain friends you must hire a lawyer to draw up the partnership agreement and definatly include a escape clause in the event timing of sale is ever in dispute.

I guess i will have to do further research, as i know i need to go into pockets that make sense with the numbers, but also wont cause me to look over my shoulder if i have to make frewuent visits for repairs.thank you both!

@Stuart Grazier 100% spot on advice.What new investors must understand is that investing is not a path to getting out of debt.

The Dodge RAM 2500 (~260K miles) was $551.51 and my RAM 3500 (38K miles, destined to tow my Bobcat T-770) was about $2600.