I specialize in helping people in the (geographic area you focus in) area who are facing foreclosure, which may or may not apply to your current situation.

I had no problem getting a tenant, but I see sings on apartments nearby with "move in special", "one month free" and "$99 deposit".

I am finally in a position to prepare to list my rental, the repair work is about done, then the cleanup.

My plan is to take the equity while I can and be prepared to strike when I need to at the same time pocketing more cash with mortgage payment savings.

That's another main factor no that the # of financed properties has been cut back to 4.My recommendation is to get in touch with a mortgage professional that specializes in investment loans like this.

Being prepared is a good thing and considering where I live we tend to get ice storms in the winter, I do tend to stock up a bit as winter approaches.

Tell him you have a friend that specializes in loan modifications and forebarences & that if you gave him their loan # he would talk to the loss midigation department for them.Then just call yourself with loan # & all your friends problems go away.Be careful though your friend & I've seen things like this before might feel alienated.

Specially for multi-units.Make sure however that you are sending the check to the escrow company and not giving it to them directly.

Well, my experience is that you usually want to start an offer at about 70% of the asking, specially if it has been on the market for so long !

Be prepared to adjust your expectations as well.What someone else said about the cap rate being 2% over the loan rate is a good gauge, but you may find you are missing out on some deals you could have made happen through some creative financing with the cap rate lower, so don't get too locked on that idea.