A lot of cash flow positive properties may influence the decision!

When you refi always make sure EACH property has positive cashflow including expenses that only occur once or twice every 5 years.The best way to view it is each property is it's own individual business.

The last REO deal I did was in 1996 so I'm not up on the latest trends and the positions of banks nowadays.

JR, It sounds like you are in a pretty good position to take on the commerical world.

However, when they don't follow through, you'll be in a position where you must get rid of them or lose credibility.Good Luck,Mike

On the other hand, if rents increase but expenses increase faster, the cash flow could actually get worse.The bottom line is that you should buy so that you have significant positive cash flow NOW.

Put yourself in a buyer's position.

If you get an opportunity to pay cash for a property and achieve a huge discount, then you would be in a good position to take advantage of that.

Brian,I am not positive on which would be correct or if you could do either.

He is also far and not in a position to really manage the project anyway.