If that is the case then PMI is for the life of the loan unless you put down more than 3.5% in which it would be for 11 years.In regards to wanting to cash out the equity based on your current rate, you will not be able to have your cake and eat it too.

Honestly, finding 1% properties in the Atlanta area is a piece of cake.

Purchase price: $135,000 Cash invested: $50,000 Sale price: $293,000 This was not expected living flip in progress during first 4 years working full time job.What was done:- full kitchen remodel- replaced all plumbing- new duct work with insulation- relocate and redesign fireplace- full 1st bath remodel- add 2nd full luxury bath (double shower, bidet, radiant heat)- convert sun room to 4th bedroom with radiant heat flooring- replaced all windows- upscale woodwork inside- repaint whole house inside and outside First 4 years forced equity and another 4 years market bring us another surprise with icing on the cake (market going up).This year 2019 decided to cash out hard work and moved out from IL to another state TN.Planning to fully enter real estate game here in Knoxville/Maryville TN area.Currently looking for my primary residence here using cash out from IL.

Purchase price: $135,000 Cash invested: $50,000 Sale price: $293,000 Living flip working full time job-full kitchen remodel-replaced all plumbing-new duct work with insulation-relocate and redesign fireplace-full 1st bath remodel-add 2nd full luxury bath (double shower, bidet, radiant heat)-convert sun room to 4th bedroom with radiant heat flooring-replaced all windows-upscale woodwork inside-repaint whole house inside and outside First 4 years forced equity and another 4 years market bring us another surprise with icing on the cake (market going up).

Purchase price: $135,000 Cash invested: $50,000 Sale price: $293,000 Living flip working full time job-full kitchen remodel-replaced all plumbing-new duct work with insulation-relocate and redesign fireplace-full 1st bath remodel-add 2nd full luxury bath (double shower, bidet, radiant heat)-convert sun room to 4th bedroom with radiant heat flooring-replaced all windows-upscale woodwork inside-repaint whole house inside and outside First 4 years forced equity and another 4 years market bring us another surprise with icing on the cake (market going up) Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Purchase price: $135,000 Cash invested: $50,000 Sale price: $293,000Living flip working full time jobfull kitchen remodelreplaced all plumbingnew duct work with insulationrelocate and redesign fireplacefull 1st bath remodeladd 2nd full luxury bath (double shower, bidet, radiant heat)convert sun room to 4th bedroom with radiant heat flooringreplaced all windowsupscale woodwork insiderepaint whole house inside and outside First 4 years forced equity and another 4 years market bring us another surprise with icing on the cake (market going up)Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

In places like this, you should be able to find cash flow positive properties with enough work and appreciation would just be icing on the cake.

The icing on the cake is the option deposit. 

You cant have your cake (low tax liability) and eat it too (show high income).

In general I target cash flow and appreciation is just icing on the cake.