The current lease expires end of March and there was some initial interest on both of our parts to renew the lease.

They could vote to entirely ban rentals thus forcing you to sell once the current tenant’s lease expires (this could be in a down market forcing you to take a huge loss, short sale, potentially even a foreclosure). 

He said he'd love to liquidate the property because they are going to lose the property at a tax sale later this year anyways. 

But lending pre-approvals typically expire after 30 days, and refreshing the pre-approval each time causes a hit to your credit score.Do you keep refreshing the pre-approval letter every 30 days for your agent's benefit, or do you convince your agent to show you places without having a valid pre-approval letter?

When that time comes, make sure you have a liquid emergency fund set up and set aside that will help you weather the financial storms WHEN they come (lenders will also likely require you to have cash reserves).

Greetings,I wanted to know if any of you knew of a service that can take your credit line, either from credit cards or a revolving credit line (business or personal) and liquidate it into cash that you can then use as a down payment.

The best thing to do is to separate all expenses into the categories that show up on schedule E and track them as you go.

So right now, while the property is owned by us as individuals, for tax purposes we would only be filling out schedule E form 1040 ?  

I have roughly 60k liquid available as a down payment if needed, and the lender I spoke to qualified me for decent rates, etc.My questions are:1.

FYI you'll market to long days on market, expireds and FSBOs.