Based on your current principal balance of $109,001.01 the property must appraise at approximately $167,694 to reach the required 65% LTVRegardless of when the account originated (even if it was less than two years ago), it may be eligible for PMI cancellation if (1) substantial improvements have been made to the property that have increased its value, (2) the LTV has reached 65% of the property’s current value, and the LTV is confirmed by an appraisal that is ordered, and directly received, by Home Point and that is completed after the relevant improvements have been made.

My head hurt just reading all this.

But tenant doesnt give me any heads up.

The market keeps getting crazier and I have a lot of money saved and pre-approved for what I would think is a pretty substantial amount but can't get anything.

Hey I’m from jersey, I’m heading down there! 

As we head into fall and winter that is generally a slower time for real estate.

He'll still get substantial money from the sale of the rest to you that is conventionally financed. 

No landlord head aches, take the money and buy another property to avoid the capital gains and flip again. 500x12 = 6000 , it would take 10 years of rental income with no issues or surprise repair bills, to get that amount of cash out.

I stopped considering this as an option until today when an idea came into my head.

Anyone who believes that Austin is headed for a major correction or sustained lower prices in the foreseeable future needs a compelling and realistic case for how the Austin metro goes from 0.6 months of inventory to well beyond 6.5 months.I think the most likely scenario is that the Austin market stabilizes and proceeds in a more orderly and predictable fashion at this new pricing level.