@AJ SmithHow many different markets are you in?

Two of them are in Kentucky and one in Florida.

This is a very old strategy and can also be done for surpluses on mortgage foreclosures. out here on the left coast mortgage foreclosure/ Trustee sale/ overages are sent to the old owner or next in line .. if they come back undeliverable  ( exceedingly rare in this area) then the funds are interpleaded.

Smoking is definitely happening in a unit (leased rental unit, inherited tenants).  

The solution for this is always foreclosure, and the resulting inability of the investor to obtain financing at reasonable rates in the foreseeable future.  

Duplicate post, please help me delete this

2)Would this save me money in the long-haul?

I just don't know if this one is going to be the same. 

I already did a cash out refinance on my primary in Texas and therefore can't do a HELOC on it.Trying to find other ways to get 10-40k cash.

Many of clients are doing this, and in FL.