They provide all the data you need at no cost.

The same can apply to the $150k properties, but I am assuming they will be easier to rent due to the lower cost.

We could sell the old house and net at least $175-200k (after costs of selling -- this is a hot market) and would put that toward the new mortgage (reducing our monthly payment and interest costs).Alternatively, we can rent it at an amount that covers mortgage, taxes, and insurance, but not much more than that.

One ended up in court costing close to $30,000 and the second involved a lengthy process with the banks lawyers and mortgage team to get the partner off the mortgage when they went AWOL and didn’t uphold their part of the deal.

There can be big costs to join this group, but if you follow the system and need a lot of mentorship, it might be worth the investment.

Below are the key data points:- Gross Rental Income: $118K (I received the rent roll list from agent)- Effective Gross Income: $112K (I'm assuming a 5% vacancy factor)- NOI: $56K (I'm assuming 50% Operating Expenses - inclusive of 10% property mgmt costs, repairs & maintenance and CapEx reserves)- Recommended PP: $623K (Market CAP rate is at ~8%; I used 9% because I want the Cash on Cash return to be 10%+ with a 30% DP at 7.2% interest rate and 30 yrs term)- The asking price is $1.25M.

The biggest pitfall is when a landlord tries to be "nice" - non-paying tenants are literally stealing from you, treat them like the criminals that they are.To calculate reserves for vacancy costs We average about 2-3% vacancy across our portfolio, I use 5% as the number for reserves.

If it has not been cashed, I would cancel the check and provide a new one less the cost to cancel the old check.

Your value is 395k and your loan at 90% to that value is $355,500 - what your current balance remaining is of 325k = $30,500 that is how much your line of equity might be minus closing cost. let me know if you still have questions. 

I worry that taking on more myself and figuring it out as I go will take longer and end up possibly even costing more than hiring it out.