Only way your going to pull that off is with a partner or with private money that YOU line up (not a mortgage broker).I have bought houses with the vendor carrying back all of their equity - so it is possible, but I was working with motivated vendors (key word here), and without an agent getting in the way.

If it were me, I would pay it off asap so I didn't have this hanging over my head. 

I am looking at an off market deal to help a neighbor and make a long term investment.

I could be off here, but my understanding is that if you are already in the business, you have a precedent set and can depreciate furnishings as you scale your portfolio. 

Don’t go out of your way to put yourself on a REPS treadmill you can never get off unless you fully commit to the decades or lifetime of defer defer defer and never realize the income.

That means you can never take cash out again unless you pay it off.

Thank you Steven, I have a great contractor in Ohio, very good so far but yes I see it as very risky so weighing my options....

I did hear on one of the videos I watched to try to purchase off market. 

Stay humble and work your tail off at your job so you can turn that 110K into 130, then 160, then 200 ASAP.

Working his but off for over 30 years, doing most of the work himself, he had to refi properties along the way to have money for roofs, plumbing, basement issues and driveways.