Would you be willing to keep the mortgage in your name and allow someone to take over the payments? 

In hindsight, I wish I would've taken that money and used it toward a down payment on a property in a better area--say, a fourplex in the Valley or even some of the parts of South L.A. that are on the up and up.  

The tenant started getting VERY behind on rent payments.

HI @Angel Alicea, is there a reason why you would want to pay the cash difference of $29,000 in additional down payment, rather than just putting 3% down payment on a conventional loan or 5% down on a conventional loan?

I am not sure if I am top tier, they used to just have paid and non paid.  

is it IO payments?

Flat roofs, old roof age, old electrical, cast iron plumbing and non impact openings will mean much higher premiums. 

Rather than me saving up for a down payment to use with a Hard Money Loan to quickly purchase a property, I spent the last 2 years trying to balance out my debt from the program and debt from daily life.MY advice is DONT DO IT.

I have a management company handling my houses and I have not missed a rent payment from section 8 in years.

Stamford is indeed a great market, but prices have begun to get into a place where I can't afford a 20% down payment on a 2 unit anywhere in Stamford, Norwalk, or even parts of Bridgeport, but I can see some great cash flowing deals where I can afford 20% in New Haven, which is close to where I am located currently.