FYI, I made my money back in equity in first two months. 

If the house were $100K, there is now $30K in equity, a 20% gain on the initial $25K down.Can one simply refinance to pull that equity out and pay back the lender, including the interest?

When in turn you have made 60k in cash flow, 10k in appreciation and 25-30k in equity pay down. 

I typically advise my clients to hold up to $250k in equity and no more than 4 properties per LLC.Kind regards,Clint Coons

$1,000,000 in equity with $10,000,000 in debt is obviously different than $1,000,000 in equity free-and-clear.

I would have about 500,000 in equity if I sell the property.So currently I make 1200 per month by renting out the San Jose property, which I am told is not a great return since I have 500,000 in equity.I currently have 8 rental properties actually 6 but two triplexes I just purchased will close next week1. 

Between the sweat equity from the rehab and market appreciation I have about $50k in equity per house, with each house profiting about $6k per year.     

If I co-own my primary residence ($250k) with my sister (mortgage with bank#1; $150k in equity), can I obtain 2 separate HELOCs (@$50k each, instead of 1 HELOC@100k) if both are with bank#2?

Maybe I didn’t read it well enough, I had 600k in equity (875-275).  

The first mortgage will be your seller financing at $90K.The problem here is that your private lender is sitting on a house with only $22K ($120K - $98K) in equity.