I would like to take 200k out of this property to purchase a new investment property.  

This is important because the financing will dictate where you may & may not be able to purchase and could help you narrow down which route you'd like to take. 

Unit 2:  4 Bed/3 bath pool home, purchase price $449k (with seller credit of $15k towards new roof).

Hello,I am attempting to purchase an investment property in a location that I do not live in or work in.

That ensures you don't spend it on other things and know exactly how much you have to spend on the next purchase.

I think being emotional is great, it means you care and you got into the business to make money and to provide safe affordable housing to people who can't purchase a home.  

Most of the established builders usually have no shortage of land to build on, which they have most likely purchased below market value.

Hey @Marv Edelstein, as an agent you will need to begin building your identity as a trusted advisor in home sales and purchases.

Why do you think purchase contracts are so long and have such small print?

The cash flow usually disappears because of old buildings and cap ex, and tenants that are harder to manage.We're in a market that provides both, and there are a lot of markets in the country that can provide both.Good luck with the potential purchase.