Hopefully you wont have any type of incident that will leave you maintaing two properties out of pockect without rent but if the unlikely occurs and you'd still be able to handle it af few months, you are more than ready for you next purchase.Good Luck...

If you buy 1 house for every 10 offers then its the same as $500 per deal and wont trigger any license requirement.

It probably wont be @Joshua Dorkin .

Yes. post war,1961 ranch, with 1 car garage.The problem I am finding is, after I pay cash,if i want to free it up for other properties,the company i use to do lines of credits on my investment properties wont be 1st on non-owner occupied properties.Shawn, Do you have any ideas on how I can free that money up either with a HELOC or cash out refi?

I wont go into too much details on that side since you asked about investing.

For awhile, we originated and closed with servicing released jumbo loans for a regional bank, the tables can be turned.Sounds too like you're suffering a bit like banks did when mortgage brokers hit the streets in the late 70's and 80's into the 90's.

If they wont sell to you, tell them their best bet is to list it then, and ask if they want the number to your agent.

Find a number you wont lose sleep over, sell it to the first person whos well qualified and move onto the next one.

It dosent matter what you work out with the seller, those two things wont just go away no matter how you wrap up the deal or how pretty you make it sound with land contracts and property trust...There are no loop holes when money is do...Thats the reality without all the big words and red tape...If this financially makes sense for you and your family then go for it, i think its a great deal if you work it right...All just my opion...

There are a couple of things to note related to that.1) Rent rate is not the only thing that suffers from a down turn in the market.a) Higher vacancies increase costs.