Principal Balance - $96k (was purchased in 2012 for $152k)Monthly Payment - $1083 principal/tax, $372 association feeCurrently rented for $1700 monthly Gross profit of $245 a monthRealtor just sent us a RVM- @237krealtor.com estimate - 251krefin estimate - 246kThank you

@Joseph Bennett@Greg ScottRegarding taking a 401k loan: You would have to confirm that your 401k plan allows for a 401k participant loan (and that you have not had an outstanding loan in the last 12 months).If yes, you can borrow up to 50% of the balance not to exceed $50,000.The repayment terms are equal monthly/quarterly payments (as you prefer) of principal and interest (e.g. prime + 1%) spread over a 5 year term (or longer if you will use the loan to purchase your primary residence).

Refinancing a loan or not paying extra principal payments seem like normal activities that investors may do.

There are other options like offering 30k down and 140k in principal only payments over 10 years.   

It seems like the 2 camps are either stay small and accumulate small multis 5-20 units each or figure out how to be able to go big and participate in a larger syndication as a LP and eventually as a Key Principal. 

@Michael PuckettScenario 1- yes, if you cannot get terms, shoot for a price reduction....the other thing you could try to squeeze in would be a longer amortization...Scenario 2- you can push price if you can get terms...so, as long as you are confident on value...for example, offer $170k at 5%...seller sees the big sale price but you can still get reduced monthly payments...don't try this if the property won't appraise in the future for more than the offer price.Sounds like you are in a good spot...these deals are always specific to the person and their situation...I like to focus on the total payment amount...so add up all the principal and interest..."

Also they think even if the principal covers the negative cash flow they are in the green..  

If you have a $300/mo mortgage (Principal and interest only) you're left with $200.

That would be like refinancing every day with no refinancing costs.As I pay down principal on my 15yr mortgages, I de-leveraging every day, essentially increasing my cash invested in the property and thus decreasing my cash on cash return. 

Average of $1,330/year or 6.04% COC ROIAppreciation$22,000 (100% leveraged appreciation)Principal Paydown$2,000Total = $25,000 + $6,650 + $22,000 + $2,000 = $55,650 profit (before selling costs and taxes.)IRR = $56,500/$22,000 = 256.8% = annualized over 5 years = 51.3% averaged IRR annuallyYou can see that the original discount rate and the appreciation are the biggest numbers here.