There is around 500k equity in the property. 150k-200k would get the property fully rented at top dollar with desirable tenants. 100k would get it to where I can rent all the units back out at fair reasonable market rents.

Welcome to the community and be ready for a huge amount of information at your finger tips.

you can build triplexes in columbus for cheaper. if it was more about you living in Grandview could work out but that's a tough exit one unit won't even get 0.5% rule.

We get an extra 3 deals a month from it.

This is a competitive sellers market at the moment with a lot of players working the MLS, you can get some nice base hits here and there, but I don't know of anyone that's hit a homerun buying on the market lately.  

Is there a way to get the 80% of the appraised value out?

When a tenant moves out, transfer the deposit back to Checking so it's ready to apply towards expenses or refund the Tenant.If you end up with excess funds in the Checking account, I recommend you transfer it to a third account designated explicitly for future investments.

Often, these investors buy bundles (tapes) of defaulted loans at a great discount to the principal balance and then create workout agreements with the borrowers to get the notes to perform.

Getting into real estate doesn’t have to mean having millions in the bank.

If you can get over $2500 per month in Jacksonville on a 300K property, good luck, but if you can, that loan is out there.