Also note that if the property is being sold for a much higher amount than it has in the past (often if it hasn't sold for 20+ years), there is a good chance that on year two your taxes will increase substantially as the county records the new value.Insurance figure around $1,000/year for a $100k price, or around $1,500 for $200k.

With that said our deal was: we would buy the property increase value (we have been able to increase rents and the commercial space wasn't rented at the time, we are about to rent that out) and then refinance, the thought was we could get the initial cash out after increasing the value of the property and repeat (sound familiar) - after which we would be 50/50 partners on the property.To my question - since this is a commercial property, would it make sense and is there value in converting this to a condo, where we could get more favorable terms on the residential units (30-year mortgages and 20% DP) versus the terms we have right now?

SDIRA qualified plans increase earnings for many by 50%.

The BP one really only works for single family as it doesn't take into account rent increases. 

I am curious how to go about building a cheap home on the lot to add to my portfolio and increase my monthly cash flow. 

I’m curious as to how many Proprty owners on the site have a long range Energy Mangment program in place for their buildings as are using them to increase their profits?

That ended up increasing my monthly mortgage payment higher than $2000 (currently I am paying $1400) which increased my DTI significantly.  

Funny part is they wanted no part a year ago of financing a rental, but they sure changed their tune.  

That's a 1.8 percent increase.

Two months ago, he suggested that I buy a lawnmower for the tenant to do his own lawn work so I don't need to hire lawn service so I did and I agreed not to increase his rent as a result of that.