It was taking money with the wrong Intention. 

It takes me 2 seconds to see that someone turned off the valves.

Something to keep in mind as well would be if there are any prepayment penalties on the existing loan that you've got as that would cut even further into the funds you'd be looking to take out.

Looks like about 50% of listings are taking price reductions.  

Take as long as possible and then refinance?

For someone that's not as conservative, or a different view on the cycle, they might have a different opinion than me on all of this.2) Sponsor quality check: (takes about 45 minutes per deal)I believe that a great sponsor can take an average looking deal and make it great, and that in mediocre sponsor can take a fantastic looking deal and make it bad (especially if there is a severe recession).

But also realize what might be high risk for you, due to my knowledge and experience might not be high risk for me, allowing me to take a big payoff with it....

they are good about responding to emails, but may take 6-24hrs and many times they don't answer the question fully so you have to go back & forth a couple of times which is frustrating when you have to wait long times for responses.

A cheap way to stay liquid and ready to take advantage of opportunities. 

Being able to see how renters take care of their home is a small foreshadow into the future of your unit, and what may or may not need to be replaced.