Later on in the day the seller called me and yelled at me over the phone repeating over and over again, "I thought I was suppose to sign this damn contract and you were going to buy who were all those people?

Very glamorous, but we sold it a year later for $20k+ more than we'd paid.Carrie

HOWEVER it needs to be on a SINGLE  family residency.I think if you called like a bank of the west or even wells fargo they will be able to do an equity line for youbut if you dont have more than 3-4 loans, I would say do the refi cash out and get a new 15 yr loan with your new balance then use that cash toward an investment..the reason i say this verse a heloc is because if you plan on holding the current house for a long time you might as well fix the payments on it instead of let a heloc linger and if u go heloc and later decide you want to fix it , thats 3 loans you need to genereate... 1 for heloc, 1 for new investment, then 1 to refi rate term on your first original investment. 

Live under your means to create wealth sooner then later.

Even if you have to do some repairs later  perhaps you can  find a smaller house that will be adequate that you can get into. 

Also, I want to be able to get back into the food world later in life.

Hi,My husband and I are new to Charlotte - we are small business owners, and we are also researching the market, with plans to begin purchasing investment properties later this year.   

It has always been a plan of mine to try to purchase this 4-plex as well and since I am not getting the tenant interest that I would prefer, I think I would like to approach the owner sooner than later.  

If I would have purchased this property through a FHA loan via owner occupancy and then rented it out later I would have a PMI payment of about $15/mo.

Thank you for the warm welcome.I will try to post the lease later.