My wife found this mortgage broker /real estate agent that is advising us to refinance our house to pull out 80 percent of our equity for a down payment on an investment property in Miami Beach.

I would advise you to use a mortgage broker's service, since he/she would have more bargaining power against the banks than you do.

The correct answer is that a property that only generates yearly gross rents of 10% to 12% of the purchase price is a BIG LOSER.

Advisable?

I'm not sure how many of them act on it, but still, is it generating more competition for yourselves on your properties?

That washow it went the first time for me anyway, to much success.Ultimately though, what I "prefer" is what I can gain the knowledge fasteston, to be able to generate income the simplest way.

A contract can not be enforced if the act is illegal.A good attorney may advise a different way of operating so that you are a principal in any deal you do.John CoreyPS.

(or unless it is just a Raltor trick to generate interest in the listing)And even today, with a low FICO and no job.

All of the real estate investing books I have read emphasize the importance of generating a positive cash flow.

We have financial advisers in house who work with investors on different tax break strategies and a partner who specializes in helping investors set up Series "s" LLC's.