I have about ~40K equity in the rental and owe about $157K on the loan, but the monthly rental income only covers the mortgage payment + insurance + taxes + an additional $75 a month, which I put aside for repairs and anything that may come up.  

Elliot Lamson I love the book Owner Will Carry: How to Take Back a Mortgage Without Being Taken by Bill Broadbent I started reading this book when I was 19 and it got me stared in the note business...and it’s great for rent to own just for structuring a sound contract and if you need a bit more of capital you can sell to note buyers

Hey BP I have been told by a lender that I can only get the seller to pay 2% of the closing cost on a property because it is an investment property? Is this true? Also I am in the market for a lender in the Tennessee ...

Hello my name is adrian moreno i am trying to get started in real estate I don't know what my best option is for mortgages under a entity.

You will want to do some research here and make sure that you are comfortable with the (albeit very low) risk of triggering the DOS clause that is in most mortgages. 

Monthly mortgage payment for 30 years with 4.5% interest rate is about $1,400 (total monthly). 

Monthly mortgage payment for 30 years with 4.5% interest rate is about $1,400 (total monthly).The property is currently being rented for $2,400 with an immediate positive cash flow of $1,000.

Otherwise you don't get any equity gains and you lose out on mortgage pay down as well.

I was just approved for a $250,000 mortgage as I am a small business owner and write off most of my income.

People who were in housing costing more are at higher risk during a turnover to find lower rents or lower cost mortgages.