It's important to focus on being a problem solver for potential sellers, and to develop genuine relationships.

We have made no concrete moves forward yet as we are still hunting for our target market to beginning to develop contacts in. 

@Dustin CornellDepends on several factors and who the lender is.

Are these both already factored into the adjusted cost basis of the replacement property?

There are, of course, many factors that go into figuring out how you would be able to survive such a downturn but that depends on what you invest in and your potential mitigation and exit strategies.  

They call the unspoken obstacle “renting while black.”It doesn’t help that developers are largely focused on the upper end of the housing market.One developer, Pardee Homes, is building $400,000-plus homes on the edge of the desert.

I am a developer in Northern Jersey and I can tell you that the benefit of the license is the ability to access the MLS.

Depending on your personal assets (i.e. what your willing to risk), in the event a claim is made against your investment property, and how much RE you plan to buy long term, those factors should dictate whether you should get an LLC. 

Even if it’s not a disqualifying factor for them, they’d be crazy to not factor the crime into their valuation/purchase decision.Best of luck!

But if you roll your equity into your home, it's alternative cost will the your new mortgage %%.So, this way your $195Kwill be working with your new mortgage rate while it could be paid off by your tenants and get sold when market is very high again.Tenants usually complains about everyday problems: A/C doesn't work, toilet clogged, facet is not working.All these cracks etc - it's the owners problem and Tenants seldom worry about that.Bottom line: I'd use $195K in investment property if it gives you more return than new current mortgage rate.But you have to factor PM even if your wife does it for free.If the ROI is less than the rate - sell it and pay less in your mortgage.ps I think using leverage will get you to your goal quicker than paying off all mortgages....but each their own