I'm using OPM to purchase and rehab properties and when all is said and done, I can usually own the properties with a mortgage, none of my money tied into it, and I cashflow from each property. 

@David DesYou could go the route of a “Subject-To” existing mortgage, but depending on how far back her payments were due or the cost of the late fee, it may be a deal killer.

With that said, I now have more properties but with the new mortgage (after the refinance) I am making just enough on rents to pay the mortgage (no cash flow). 

I do plan to go with an FHA 3.5 down mortgage. 

A few months ago we took out a second mortgage of $25,000 since we were told we could put as little as 5% down.

This is a good article I found on HELOC.https://www.wisepiggy.com/credit_tutorial/mortgage...Best,Tim

The plan is to only go for about 1 year.My thought is that I would like to have about 3 houses rented when we move to Central America, but some say refinancing out of such a low interest mortgage is not a good option... but that's why I'm posting to get your thoughts.

Our mortgage in NH is almost paid off (only 2 more years!!).

My current mortgage is $410 a month, insurance is $80 a month and taxes are about $50 a month...

You will find this mostly through mortgage banks and small banks.