If not, $100K has to be enough to cover closing cost, repairs, maintenance, etc. until the property starts producing income.

So my concerns are this: The CA property is in such a great community, and is such a quality home that I am of the strong opinion that this house will continue to produce positive results for us.

Talk about a let down.We can always sell it and probably make a good profit doing that, but I would rather keep it because it's producing such good income right now compared to the estimated debt service that we would be repaying if we could get a loan.My question is does anybody else have any other ideas for pulling our cash out and getting as much as possible so that we can move on to other projects?

Be in income producing property and guide the portfolio yourself.

Two million dollar producing agents also viewed the property and gave their independent assessments of what it could sell for...

For someone new just starting out, it seems like a daunting task to find an income producing property so any help that someone can give me would be greatly appreciated.

...Well, you will pay that same mortgage whether it is vacant or occupied, so as others have posted, it is only the income reduction caused by vacancy that you have to concern yourself with.Certainly a property with no financing will produce more net cashflow - that holds true whether you do the comparison against a mortgaged property either vacant or occupied.

This guy has quickly taken over the number slot on my sh!

This guy has quickly taken over the number slot on my sh!

Dennis, more information might help, a land lease has no improvement to speak of, amenities perhaps but no residence or commercial income producing property, then you mention an HOA and tenant.