They are unable to answer questions regarding positions that you do or don't take on a return.The other issue that I have is that it appears that you have to educate your accountant on positions that you are eligible for when it should be the other way around.

The small caucus that gathered at our inaugural annual conference shared ideas to bring the profession into the mainstream and safeguard its position in the larger finance market.Perhaps the most crucial idea to come out of that conference was the need for a new term to define their vision for the industry and its future: not “hard money” and “hard money lenders” but “private money” and “private lenders.”

@Aaron AndersonIf you have $60k equity in it, why not get the best of both worlds?

I own the house out right and was thinking that I could fix, rent and then pull out the equity for purchasing another home.

If I have a rental property with a mortgage on it and about 20% equity in the property, would I be able to refinance and pull cash out ?

Is there any equity there?

My question is, when you find something like this, and you don't have the funding ability(I work at a school and have TRS not a 401k, so I cannot take a loan out against it, nor do I have 20% down, but I have about 60k in equity in my home, but the lenders I have talked to will not do a HELOC in my state, point is I can flip, but not buy and hold with my own financing) and you need a partner on the deal, how do you protect yourself from telling them about the property and them just taking it?  

Other than that, you'll have to either pay down the mortgage and refinance again, or try to raise that rent to make the cash flow positive.

I'm looking to  cash out, of course with a line position to the lender at 60 to 80 percent of appraised value.

Why rent has several reasons to be great and not just the money or the renters  position.