He will ask you to bring $5-$15K to the closing table so you have skin in the game. 

Landlords mistakenly ASSUME all PMCs offer the exact same services and operate the exact same way, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services.This also leads them to ASSUME simpler is better when it comes to management contracts.

@Eric Oneill If you're holding fat stacks and staring at the Poker table it's smart to learn the game before you buy in.

I am not sure if partnering with close friend, also with 50% stake in the game when I may have to spend more time on this whole process sounds fair or not.

Real Estate is a long game though.

A little late to the game here, but I'll throw out a few markets near where we work in Colorado.

Bunk beds and pictures of kids games in the photos will deter some.Check out: https://greatescapeparkside.co...

@Bradley Perry I think you are on the right track but may be a little ahead of the game for the refinance, as others have already said the fees for the refinance and the 75% LTV are the big things to consider as it seems you would potentially only get part of that 35k back which means you would likely look to refinance in the future again to get the rest.

Consider that perhaps you and I are not debating the validity of different strategies for playing the same game, but rather that we may be playing entirely different games.

Your tenants don't need to know that this is your first property and that you are new to the game.