These people were tenants from hell: they broke doors, punched holes in the walls, soiled brand new carpets, etc.

After purchasing land to build a home on, it usually takes a few months to do surveying, site and soil evaluation for foundation/septic/well (if necessary), and other paperwork.  

Good thoughts can make you healthy, wealthy, and wise.

Why not leverage up to 10 properties and leave the 401K alone for now as a healthy reserve and then decide whether or not to go whole hog?

Meanwhile, have a Merry Christmas and a healthy prosperouts New Year.

Now as more of that has cleared their books and they are making new loans and are healthy again they are wanting to increase margins.How does a bank increase margins??

It could be a simple as jacking up the overhang with some temporary shoring and bottle jacks to replace the 6x6s or it could be as complicated as an under-designed foundation or soils issue.

Orlando-Kissimmee-Sanford, FL Metro Area12.41% Change of Rents 2009-20149.48%   Change of income for renters 2009-2014looks like a healthy market Check out the rest of the countryhttp://economistsoutlook.blogs.realtor.org/files/2015/03/NAR-Renter-Research-70-Metro-Areas.pdf

Run away - most are considered hazmat sites and once on the map they are considered that to the EPA has confirmed that all contaminated soil & building materials have been removed and in a hazmat landfill -- you can only use a licensed contractor - it will big $$$$$$$ - property will be on top of the building & fire departments watch list

I think it is best (especially with the current extremely low interest rates) to try to leverage, but have a nice cash reserve for maintenance, capital expenditures and unforeseen costs (since you are not paying cash you should have more available to you as a cash reserve).It is no fun to have to leverage to the point that if 1 tenant misses a rent payment you can't make your mortgage obligations.So my advice in a nutshell:  mortgage + healthy cash reserve.