At the same 80% LTV, you might be able to refinance the property and pull $26k ($120k x 80% = $96k, less the current mortgage balance of $70k).On the other hand, if you buy a turnkey property, you will only get the debt paydown and whatever the market/inflation pushes the value up to.Also, use the @ symbol to tag people so they know you're talking to them and they're more likely to respond.

To tag someone you start to type the @ symbol and there name at the bottom of the post reply box below the monitor topic it should pull up their name.

The 2% Rule is the same thing as using the 50% Rule and applying a 12% Cap Rate on the annual NOI.I was looking at some properties and noticed I got the same value using the 2% rule and using the 50% for an estimate of NOI and happened to be using a 12% Cap.Being a math dork I did write it out symbolically and they both reduce to the same mathematical equation (Which BTW is just multiply the monthly rent by 50).

Welcome to BP @Kevin Norton .To respond to someone, use the @ symbol at start typing their name.

Don't forget to make keywords up so you know when someone is talking about your areas of interest.When you want to tag someone in a post use the @ symbol and start to write their name.

FYI, if you type the "@" symbol then begin typing the poster's name that you want to mention (@Joel Comino, for instance), Bigger pockets will pull up the person in the thread you want to reply to and you can click on their name so BP will notify them that you mentioned them.

:) In order for other members to receive a notification that you've mentioned them, type the '@' symbol & the first few letters over their name then wait for a box to appear below.

When trying to tag someone, use the @ symbol, then hit space 1 time, then start typing the person's name. 

What isn't safe is putting every dollar into clothes, rims, neighborhoods as a status symbol so the Jones's think you're ok.Bless them. 

In their world, that BMW is a status symbol.