.#3 If I felt like they were paying other things, such as shopping or eating out, before rent I would evict them immediately. 

They will eat into your profit.  

If you do a cash out refi, your new loan repayment is going to eat into the cash flow for either property.

If this is a D-class property in Cleveland, the cost of turnovers and vacancies may eat up any potential profit.

Hey BP community - planning a trip down to Houston in the coming weeks - Would love to grab coffee, a bite to eat, or a drink with anyone involved down there!

That would be the same situation as the guests ordering take-out or Uber Eats.  

Some define "quality life" as sitting around watching TV, playing cards with friends, eating the early bird special, and going to bed at 9.

I've always heard the saying you can't eat equity, and I stuck to it!

Flip side is they'll likely eat up more of your commission split because they're the big guys, and there's so many agents there that you're unlikely to get much with referrals or cold calls until you get some time in.

No Prepayment penalties and this really only ever works for rehabbers or builders/developers since these terms don't pencil out for any rental properties, as they eat the cashflow, but if your deal has good numbers, these loans can help you scale quicker and save you your equity.Feel free to DM me if you'd like to discuss this scenario a bit more!