If a 100% loss of your investment would leave you in dire straits, then ABSOLUTELY do not take that money out of your house.The answer to your question requires more questions.

I have quad 4 unit buildings that are town homes.What I have found is it is much better to put all tile on the main floor instead of carpet or vinyl.Upstairs with the carpet it doesn't get worn down as much as the main level.When you evict a tenant with tile it is mop and go and not fixing tears in vinyl or carpet that can't be salvaged.The dirty carpets tend to attract bug problems as well.You can find tile cheap and buy a big area rug to warm it up for cheap.The key with tile is the contractors can kill you on the install fee.You have to find a contractor hungry for money.I can get tile 12 X 12 for 56 cents a sq ft.Main level I would spend about 229.60 in tiles,another 150.00 in mix for bonding and grout for finish and just put back old finish trim down and repaint.Can get a hungry contractor for 75.00 a day to tile day one and finish grout 75.00 day two.Total cost 529.60 for main level.I have 1,178 sq ft with 2 story but I leave carpet upstairs and on the stairs and tile the main.Don't pay high prices.Be patient and turn over rocks to find the great deals.

To all of you I just booked a flight, be there Oct 15 and leave the 19th in the morning.

I think its a great opportunity since I saw how well they took care of their place and got the feeling they didn't want to leave but am also scared to run into any pitfalls that are unforeseen with this investment.

How about renovated masterpiece 3bed, 2 bath granite countertops blah blah.If its okay Id like to make some notes about what I see- please feel free to use whatever is useful to you and leave whatever is not- Its not a judgement just notes about what I would change.I'm not a fan of your pictures- Looks like a great rehab and pretty nice staging but I cant really see any of it pictures are very dark for the most part and most don't really focus on what I want to see which is how great your house is- WOW ME!

Not to leave out my Mentor and local R.E.I.A.

Note: I always leave enough in the savings account from the CC loan to cover at least 6 months of the payments [make the payments with the borrowed funds, if need be]In your case, 7% is ok.

Gone through 2 divorces that wrecked my real estate portfolio. Presently, I have about $35,000 left and looking to start over in a new state.

My credit is no more stellar, but used to own many properties and familiar...

Yes, you'll leave some marks on the wall, but in my opinion, it's well worth it.- Photos: Angles are good, lighting is not so good.

(c) A landlord who violates this section is liable to the tenant for an amount equal to the sum of $100, three times the amount of the late fee charged in violation of this section, and the tenant's reasonable attorney's feesSo according to this I would think I am ok as long as I leave a 1 day grace period?