I told him I would go that Monday since I had to travel another 40 minutes back into a neighboring town to drop the check off.

Regardless, also drop in and talk to the 'squatters'.

should I still do a cash out refi if my cashflow drops down?  

Of course some of them get rejected and we offend the owners but we clearly gave them a letter stating why their property is over priced and usually within weeks they drop their price ;P then we try to come in with a slightly higher offer and tell them to give us a call if their property doesn't sell.It's all about who you work with, yes you burn some bridges but you also get rid of the people slowing you down as quickly as possible.

Currently looking at dropping the ownership percent for the partner below 20%, but than in the LLC Operating Agreement, artificially ensuring he gets the same amount of cash flow.Thanks for any insights you might have.

You can always cash out a little less and leave a little bit in the property a for a potential drop in the prices - just to play it safe.

This drops you back down to the current market rate.

How does the technology work - can we just drop by and get access to a listing with eKey without calling or requesting a show time?

However, I don't see the market dropping anytime soon in the area.

You will most likely have to personally back the loan. this worked for me with my first loan with a bank: have 2 years tax returns with you, a broken down and typed out Net Worth with you any current W2 forms ( 2 pay checks ), copies of current bank account statements, copies of credit reports might help but they usually like to check themselves and maybe even a business plan with you ( the last one i did not have) go to the banks with confidence that this whole deal is nothing for you to handle. walk into the meeting with them, tell them exactly what you want to do and immediately hand them all those papers. tell them you think you have everything they need for them and that to let you know so that you can get it to them right away. i did that and the loan officers mouth almost dropped, she said she wished everyone that came in for a loan was that prepared, that was 6 loans ago with that bank and i still deal with the same bank.