more than likely your strategy will not work the hard money lender will want first position and a conventional lender will not want a second

I am soon to purchase a single family home that is going to serve as my primary residence. 

I like how this appears to be cash flow positive but do not want to seriously consider a property without doing all the proper research.

Tenants know this and it positively affects the ability to collect and enforcement of lease provisions.2) Charlotte rent to buy ratios are typically much better than those I've seen in NYC metro.  

We'd like to sell it and use the proceeds to buy a new primary residence and then either convert our existing primary residence to a rental or sell it and buy some different rental units.

As long as you are paying more than what he owes for the place then he will be in a position to pay off the lien.

Wanted to float some thoughts with you all, My home is currently valued at $220k, originally purchased for $155k fifteen years ago.I have enough cash on hand to pay off the remaining mortgage of $120k and have a paid ...

Just explain your position and ask for the 4k.

I have 130k in equity in my primary residence at 4%.

Since these will be out of state, I definitely would need to account for a property manager and still obtain positive cash flow.