The substitute of collateral was more of a scenario where you sold for $155K, and instead of paying off the $88K loan in your scenario, those funds stayed at the title company and were used on a cash purchase happening nearby in date. 

Similarly, quality dividend-paying companies often retain some earnings to reinvest in their business, increasing the company's (and your) value over time.

@Tammy Elias The lease is tied to the property, not the management company.

I have done quite a few different things, one of the best to find out who is doing the most volume is go onto good and search for the "we buy houses companies" in the area you are looking to invest.

Partnering with family and securing owner financing to acquire the property below asking price was a smart move, and the renovations sound like they added significant value.As a direct lender, I’d love to explore how we might assist with your future growth, especially as you look to scale into larger multi-family investments.

Are you moving to different neighborhoods, changing your renovation budgets, or holding properties longer?

As far as home office no longer being an IRS "red flag" I guaranty that if you put a home office deduction on a personal return on Turbo Tax it will move their audit risk needle.

the company I went with was 12k and performed high quality work.

I'm currently awaiting 24hr notice of sheriff eviction, and I got court approval to move forward with money judgement for past due rent collection.

We have been around the bigger pockets community for over a decade now and have more 5 star reviews on bigger pockets than any company on this website in any industry (>270 5 Star reviews).