To unlock the equity you are going to need to either (a) sell the property, or (b) get financing through a cash out refinance or home equity loan.Bottomline -- The best way to make money in real estate is to purchase properties below market value.

If you have a relationship with them you can do a 506(B) but if not look at a B.

I know at least how our C/D class renters operate and think ( having had 300 of those) and they get checks and I fear the last thing they are going to do is pay rent if they think there is a moratorium on paying etc.. that is where I see risk right now.But working with tenants through this is just a REALITY and my thought is and us lenders learned the hard way that taking a tough stand with someone who cant pay you anyway is just going to lead to more trouble.the idea that most renters have a 401k they can draw from or a big savings etc again in my experience at least in work force housing this thing dont really exist for many if not most.Lastly one of my bizz partners owns a 150 unit B class in the northwest his manager sent an email and said be prepared for 40% no pays for one to three months.. now with all this bail out I dont think it will be that bad.. 

My units are in class B area and we have had no issues even with the virus.

Except for several things (e.g. air filters) that we do quarterly which a) makes sure they get done and b) gives us an excuse to stop by.

Property B (200k) rents for $1125.

The neighborhood is decent (B, maybe B-) just a little distant from the city and lower population density. 

@Sam B.

Take a read through IRC Sec. 164(b)(6). 

My primary was not called, and really B of A did not call my non owner HELOCS but they did shut them down!