Here are the numbers I've calculated  based on 80% refi of all 3 properties, at 30 years, at 5.25%:Item                              Current                 Post-RefiCash available         $        0                   $300,000 +/- Cash Flow/Year       $   65,000              $  52,000 +/- Re-invest $300k from Cash out as 20% DP on more properties (there's an even better way than this too)& using the same ratios of ARV to NCF, you could increase your NCF an added:  $78,000/year; to $ 130,000/yearYou are sitting on a Gold Mine here, and you're thinking like a "homeowner"...not an investor...although you're not alone.Your Options:  Limited by the maximum Cash Flow from existing properties after complete payoff Max CF/Year                                                                                    =  $   95kCost to do this (pay off all mortgages using your cash)          =  $  456kNet result                                                                                        = - $ 361K  (that's a loss)REFI ALL Option:  Limited by ???????                                                                                                             

Hi @Greg Deane,There are several risks, but if you're able to find a well run community, it's gold. 

http://www.latimes.com/local/california/la-me-lopez-equity-wealth-20171126-story.html

They did give you a nugget of info that the current owner is wanting to make another investment now...sounds like they will be slightly motivated.It's possible I misread your post but it appears you included debt service in your NOI calculation, which debt service is not an expense included when calculating NOI.Here's how I calculate NOI: NOI = $2,875 - $191.67 - $733.33 - $220 = $1,730 x 12 = $20,760At the 8.6% Cap Rate suggested by your realtor, that's $241,395.

Ethereum, which has a practical business application in that it provides a platform to build decentralized applications, which is THE GOLD MINE BEHIND BLOCK CHAIN, as opposed to Bitcoin which is simply a currency).All that said, that's just my opinion (strongly based on my work experience and research) and the future could prove me dead wrong.

Meaning, your attorney really needs to nail all this down in a watertight agreement in order to avoid that the owner suddenly sees the gold himself.

I second @Nathan Golding - Service Master is a great company to work with. 

If they have enough copper, aluminum, and other resaleable metal their "melt value" may be higher than their cost--kind of like buying scrap gold LOL! 

It's full of dings, dents, scratches (I live in South Philly, nothing but street parking), missing a hub cap, and its in "crap gold" color.

. : I invested in to my own installation last year in June.It felt like the new gold rush.There are TONS of companies on the market because of the 30% tax incentives + subsidies.They show you nice graphs with high IRR (min 10%) with inflated estimated power output and are making crazy margins thanks to the subsidies from the local utilities.Make sure to challenge their assumptions and have them compete against each other to get the best price as possible.