Is that meant, the property manager who I am using to manage my condo can potential sell house?

What I meant is if I don't have the capital, but have a family member who does.

It appears that the way that I phrased my original question caused some confusion as I meant to explain that we were simply interested in a rate & term refi to pay off the private money loan - NOT pull cash out.

We made an offer this summer but the seller was unrealistic as to value so waited and he finally came down to our price when the election showed he was going to have to pay a lot more in taxes if he sold in 2013.

It took me a while to figure-out what it meant.

Not sure what you meant, adding to our cost....maintenance of the account is a business expense if held in a business and yes it's an expense, but it doesn't increase your cost basis in the property. :)

So its interesting that people would in the group would have accepted 150/mo (my guess is they meants 1,500 a month and just lost their calculators).

I am estimating probably about 1,200That sounds high.We do it ourselves so its just the cost of the new panel plus any ancillary breakers to accommodate an elect stove/dryer, dedicated GFI circuits & wired in smoke/CO detectors.I would check with the guys at your local Home Depot etc & see if they have someone more reasonable.

What I meant to say is- the formulas there DO work, the returns do not.

This statement is meant to inspire you to not worry, make offers that make sense to YOU.At $107k purchase, price and 20% down, you have a PI payment of $396.43.