ALL the note investors are in first position if it's a first position note it's like taking title as a tenant in common. 

(And keep in mind, it's 6 months from close to close, and the refi is likely to take 45-60 days, so you can really start the application closer to 4 months out even if seasoning is required).A conventional cash out refi is one of the most common and popular loan products out there and you can't turn on the radio without hearing an advertisement for a refi.

Meaning two bad in a row is not common. 

@Anthony ZottoDo you have ownership in these properties via an entity(LLC, LP, etc) or as Tenants in common(AKA TIC)?

Is it common practice to have a deal in the works when doing these?

I would look to purchase the primary with a low DP loan if possible or find another way to finance it and if anything 1031 the rental into a larger, better performing commercial building, or rental property.Just my 2 cents and I am happy to be a sounding board and second opinion for you, as this is a very common question for investors!

Hey there,Looking to make a home purchase with a new agent and there is a clause in the exclusivity contract.Is it common to list a "protection period" for several months after the contract ends?

@Jay Wang if you look at most of my previous posts about Raleigh/Durham they are data-driven answers, however, in this case, I think a common phrase I hear around town best answers your question about Raleigh vs Austin."

What if they have the common cold or flu?

I also recommend posting a notice somewhere in each unit or in a common area that explains some rules like quiet hours, parking, use of laundry, not storing personal items in the common areas (laundry, hallways, etc.).Once the tenants are in, it's time to enforce.