Are you familiar with hotel operations and how to evaluate financial performance? 

However, my original desire to achieve financial freedom has just became stronger.

Do you think your tenant will be able to come up with $10K if ordered by the court?

In this case, a court may issue an order creating an easement by necessity allowing the owner of the property with no access to cross the neighboring properties unrestricted.

We usually recommend speaking with a lender at least 6 months out to make sure there is nothing crazy on your credit and to get a plan in place financially.

A little back story, my boss started a very successful non financial related company in China 16 years ago.

While I am not opposed to that, I am confident there are plenty of great deals in our state - we just haven't found them.Second, I want to ensure my financial analyses are as accurate as possible for each property, mainly my assumptions around estimating expenses.

Bankers have better lobbyists than you, which means that the laws are stacked in our favor and the court will not be particularly fair to you.Don't commit mortgage fraud, please. 

Could be 10% or even 20% depending on the condo's financials and the ownership makeup. 

Both our tax accountant and financial planner are against the cash out because of the fees, but we have no other option if we want to get into investing in RE.