Eventually I also hope to learn enough that I can return the favor and help out other members. * Listen to all of the podcasts and read some books of course.* Take some courses and attend some classes.

Re:  BRAC, if all the flood research you do is favorable, then do some DOD research. 

Do your self a favor. 

The terms seem much more favorable (w/ my bank) than a cash-out refi.  

Only single family and their terms are no longer favorable to what other lenders have to offer

Pledging equity from real estate has its advantages since you dont have to come up with cash and save on cash out refinancing costs by agreeing to encumber your asset to obtain debt financing from a bank.I think the most favorable terms and pricing will be from your primary residence since HELOC money can be obtain for as low as 3.75% to 5.25% up to 90-100% LTV of your homes value.

It says nothing about how friendly or unfriendly the landlord-tenant laws are, how favorable the tax system is, nor does it say anything about the quality of the renter pool.  

Do not give him any new information or make any judgements which may favor or encourage hm.  

Dave, did a bit more reading, and it actually looks very favorable against the TIC option, and even better asset protection than the typical LLC setup.  

That generally elicits a favorable response.