I won't make any profit on it, but he's paying the bills and our hope is that he will buy it from me in 1-2 years or we'll keep it as a rental and he'll buy something else.

They don’t appreciate the thousands of dollars they’ve been given over the years. 

I’ve been with REI Nation for 12 years, and I’m here to help with anything you need.

Here are some of the details:Purchased: June 2023Tenant: NNN lease, 3 year lease with renewal options that commenced in April 2024.Tenant pays $6,200 total. $5,000 net after taxes and insurance Internet is responsible for maintenance.Down payment: 30kValue: $725k +Current loan: $440kI just wanna pull $50-$75,000 of equity out of the property without being killed on a really high interest rate.

A hypothetical to see how people factor costs when rolling equity forward into additional purchases.For this example assume  you purchased property “A” for 100k, and put 25% down. 2 years later you sell it for 125k so you now have 50k (25k from your initial down payment + 25k in equity).

Situation: Years ago the owner of a property worth $1M and an elderly property owner placed a REVERSE MORTGAGE on their property which when funded allowed her to stay in her home and receive distributions from the lender up to a MAXIMUM sum of $700K. 

They seem to offer DSCR loans even with a 30 year fixed, no ARM, at 6.49%.

The house I bought this year had ALL the plumbing buried in concrete, including the faucets for the two tubs.I have already had to do temporary repairs to one (DIY $150) and it looks like I'll have to do the other soon.

I am wanting to add one more property this year.  

For the last two years, I applied to a heloc at the same bank and was basically laughed out the door.