so I have come across investors that can live off their rental properties and then you some that are just happy with getting their mortgage paid off and have a little extra for repairs and maint. 

CPA may charge a little extra for that, but it'll ensure your lender-calculated DTI isn't a mess when attempting to get fannie/freddie mortgages in the subsequent two tax years.

Market could go back to 2013 levels and if rents dropped way down too it might not cover the extra 200k debt service as well.Would it make sense to use the equity to pay off your other investment or does that make this much cash flow as well?

Our group is the truth!

*shrug*By contrast folks actually residing here, that are here lawfully...Teach them how to hack FICO, they do exactly what they are told.Teach them to season funds, they do exactly what they are told.Teach them (or their CPA rather) what stuff we look for on Schedule E, make sure the rent and fair rental days are accurate, get aggressive with depreciation so no one is paying extra taxes for no reason, et cetera. 

Using your extra income does sound like a good idea, but just for a second, imagine this. 

You have extra cash that isn't getting a return, but you would like to put it to work.

“The simple truth is that if you had a mere kernel of faith, a poppy seed, say, you would tell this mountain, ‘Move!’

We would think the lender would want them to come up with extra cash to cover the discrepancy between appraised price and their offer price, which could be as much as $25,000.  

I was in the construction business since I was 17 including those college years.Since I was in Texas and planned on staying there I found out that I was qualified to take a real estate broker license test without taking anything extra so I got a license, in 1980.