I can not find a straight answer on this for California.  

I'd like to keep buying in this particular market, because I have a great deal going with my agent and they cash flow well.My question is, do I keep them paid off, and collect straight cashflow, with a lower ROI, or do I refinance, pull out the cash ($120,000 each), which is about 25-30% of the value. 

I see bad times ahead, and I am quite an optimistic fellow.Right now the government is pouring money on every squeaky wheel so we have a false sense of reality.

Simple and straight forward.

If you were to go ahead with the letter, any thoughts on content?

However, I don't expect a big change in the city.May be one of us should run for an office and make the change :D))) PS: I still cannot believe Sheila Dixon is ahead of everybody, crazy crazy crazy

I look forward to the journey ahead!

It would be nice to find a way to give the young mother a "heads up" but be careful.

Some months you'll be a little ahead, others a little behind...but it should even out in the long run.

@Nicole Vincent, i dont want to rain on your parade, especially as i havent seen the property and make my comments based on assumptions and personal experience, BUT... additionally to all the great comments ahead of mine;As this is in Florida you also want to think about the strict building inspections when rehabbing.