Wish I could give you some advice on area rentals, but I'm up north and imagine the market is quite different. 

I had leveraged properties six years ago too and I did not pay any such hefty price you imagine. 

Most of you are at least somewhat familiar with the BP podcasts I imagine and, like me, have noticed a pattern in one of the answers to a question at the end of the shows.

I can't imagine it would be easy to find tenants who would want an 11 or 11.5 month lease, unless you are near a university.Also, accept the fact that some furnishings will wear out or get broken.

Once that 3rd unit is finished I imagine the triplex would be worth at least $160,000?  

Some of you are thinking we got a bad deal, but no, I have been thinking for a couple years that I would like to rebuild a house foundation up, and we did just get word from an engineer we hired that the existing 1960 poured concrete slab should work for any type of house we wish to build.

I imagine like Georgia, great schools drive real estate in your area.  

I work downtown and see the money being poured onto Olive.

I imagine that you might have lender who wants to pay off the LOC, but doing so would be kind of silly, as you could immediately turn around and draw on it again.  

Maybe in some cases, but I can't imagine $3K making too much difference in most deals.EDIT: I'm having a tree removal service come out and give me an estimate on cutting it down next week.