Take the wife on a nice trip and drink one for me. 

Granted, there are properties in the not-so-great part of town that would do well as a rental or possibly as a BRRRR type, but not good enough for a pure flip.

This would incur an additional $40,000 in Debt Service to Property #1.2) 30 Unit Multifamily (Stabilized) Fully occupied (Massachusetts)Gross Income: $290,000Net Income: $145,000Debt Service: $55,000ROI: $90,0003) 32 Unit Multifamily (Stabilized) Fully Occupied (Massachusetts)Gross Income: $275,000Net Income: $135,000Debt Service: $55,000ROI: $80,000So effectively by cashing out refinancing I would be able to buy two more properties and increase the following:Gross Income $170,000 to a total of $735,000Net Income $90,000 to a total of $370,000Total Mortgage Balance: $500,000 to a total of $3,000,000Debt Service:  $28,000 to a total of $178,000ROI: $62,000 to a total of $192,000In terms of pure cash out of pocket of $250,000, making $192,000/year with that would be 76.8% Cash on Cash Return (ROI).

I purchased a short sale house in Burbank in 2011 that cash-flowed quite nicely from day 1 and is nearly doubled in appreciation.I was investing in Fresno (mostly Clovis) for pure cash flow and hopes of appreciation up until a couple months ago and got rid of my last property up there.

It probably slows down my ability to buy a pure investment property, but it gets me out of flushing thousands of dollars down the toilet each month and gets me into an appreciating asset, and it helps me save more than $1,000 in disposable income each month (not even including principal paydown).

Then, I recently read "Set for Life" and have started heavily budgeting myself with the big money holes in my life (rent, car payment, groceries, alcohol/drinking) and seeing that I will be saving around 1500/month woke me up to the fact that I need to be investing now, not later, so that compound interest will work in my favor.

Is this property officially commercial, mixed use, or purely residential?

Hey @Roberto SantanaIt really comes down to pure content.

On wholesale deals that were purely assigned we have done quite a few at $ 22,000 to $ 25,000 per deal. 

We now think of PEX tubing for drinking water supply, but it has been used for hydronic heating systems for a long time.