The cash is invested in equities, bonds, commodities, etc. by the trustee.   

The townhome is rented by family and basically they cover enough to make the mortgage but in not making profit from it.I have about 80-100k in equity in each property and am debating on whether to do a basic refinance considering how low the rates are right now OR Cashout refinance, Heloc, Heil, OR just leave it be and wait til my family decides to move (potentially 1-5 years)I have more family here that would be able to do the same thing as my family in RI and basically pay the mortgage but I wouldn't be making profit, simply owning another property and building equity long term.

IRR calculators which I assume factors in equity shows a 12.23% over 20 years on the calculator. 

I have built around $80,000 in equity due to appreciation and plan to hire a company to manage the property and start to cashflow instantly.

Say $100k property, $25k down payment, appreciation first year is 3.5%, so at end of first year property has increased in equity $3500. $25k/$3500 = 14%.

There are a few local banks that I'm sure would be interested in lending the money (given that there is already $20k in equity in the property).  

In the event you join a person in an LLC, any member with 10% or more ownership in equity will need to be underwritten on the loan.It sounds like the seller is not willing to accept conventional financing.

I need some opinions from all.....If you have cash flow properties making 9% to 11% right now with no mortgage, but already made 50% to 80% in equity, should you sell?

(BTW, my first mortgage is a 1 bedrooom condo in Queens that was under water when I first started my mod. but has since balloned to bing +50,000 in equity with rising home prices).

To me, even the pay down in equity wouldn't be worth it.