However on a Cash Out refinance you will need to wait 12 months and are capped at 75% LTV for the majority of lenders. 

You are also physically there to address any issues that come up.

However, it did not go w/o issues and frustrations.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

We are doing a 60/40 split as he has come in with the majority of the capital on this deal.

I have no experience there, but I am sure finding the right person to trust for a long time would be an issue here.

I also live at home with my parents when on my off days.My issue lies here.

Also, we are 1/2 mile from 2 major grocery stores and all of the home delivery you could want, whereas I'm guessing that's not the case up at the lake.

The builder has corrected grading issues twice before where there was standing water in my backyard, but it looks like the issue was never resolved.

I do the same with major items like windows, exterior maintenance, roof etc. 3.