If you're worried about whether they will be able to pay, have them bring copies of bank statements so you can see both their balances AND whether they're paying their rent on time.

As for leveraging property, I've been told by friends in the banking world that they basically want a direct line to the leveraged property, not just assurances from a balance sheet.

On some contracts, I noticed that in the area of assignment to the assignee, that it says "pay an assignment fee of $______ (payable $________ with signing of contract and balance at close)."

I think having a balance of goals is important.

Vacant- 3bd/1ba Balance $63k vacant now but rented for $600 mo (15k repairs)2. 4bd/1ba Balance $38K currently rented $600 mo3. 3bd/1 ba Balance $53k currently rented $575 mo4. 3bd/1 ba Balance $43k currently rented $600 monTotal outstanding balance to bring current with mortgages/taxes $193k and the market value from tax office/assessor $250k Sellers want $7-10kk and will assign contract to new owner if financing cannot be obtained immediately.

This would add about 3500 in insurance premium to your mortgage balance (you may be able to pay the premium up-front rather than roll it into the mortgage)With an insured mortgage, if you were to go with a 5-yr term variable rate product, you should be looking at an interest rate between 2.4 & 2.7%.  

Balance that with the fact that the lower the risk, the lower the likely reward..

I wouldn't sell your property in AZ as it is a potential rental hot bed and you can have a renter pay off the rest of your balance eventually.

Just so I can balance out my knowledge.

The bank issued a default judgement for an amount which still leaves some equity in the house, but it is set to go to auction in two weeks if the balance goes unpaid.