Here is an institution that is built on trust and sound principals that feed on the hopelessness of people.

Certainly, there have been a lot of incidents in the recent past where bad brokers stuck people in bad loans because they generated a bigger commission.Like David, I STRONGLY recommend you find someone you truly trust who can guide you through this transaction.

Build some trust, people.

The biggest mistake you can make right now is paying cash for props if you want that cash back within 6 mos.Even after 6 mos you will be limited to the amount of cash you can get AND the LTV will be a lot lower than you are expecting often leaving 30-40% of your cash locked in that house.Always have a note and deed of trust on a prop when you purchase - not one of your companies but maybe a friend or colleague - so that when you are refinancing you are paying off debt.

The nation's largest previous banking failure was Continental Illinois National Bank & Trust, which had $40 billion of assets when it collapsed in 1984.

I think, with the scrutiny of the world upon them, they (banks and government oversight) will wake up and smell the coffee and perform as admirably as the Home Owners' Loan Corporation (Depression era) and the Resolution Trust Corporation (savings and loan crisis).

Trust me the few dollars you would profit would not be worth the bills for the stress you will incur.

I know patience is key here as well... we'll see how this goes. thanks again for the extremely valuable response.

Its in an area which is extremely desirable for renters and buyers.

Trust me I have been there and done that and wasted a ton of money.