I agree with other posters about needing a strong personal balance sheet and credit score for large loans for purchasing property.It is possible to get unsecured business credit for credit lines though.

There is a balance. 

It's a balancing act.

I do see that you are in San Diego and the price points there are less attractive than other markets, but you just have to decide to balance the ability to learn by doing self management for some time, or learn as much as you can about off-site management before taking the plunge into another market.  

She is being advised to  sell her current condo, pay off the existing mortgage, use the balance to support the 20% dp and then invest the rest in the market where she might receive $400-$500 return monthly for living expenses (too risky in my opinion).

If they really hold to a tougher policy language they may pay out partial on the $7500 and the balance of it when you show completed work.I have insurance clients with let's say not very nice rental homes that cover their properties just like that and are ok with a payout like I described above.

I was wanting to know if there is a way to look up the remaining mortgage balance in Indiana?

@Tony Castronovo What you negotiate is you pay for the docs and they pay for the transfer fees so it's balanced or other way around.

You can purchase the property sub to the principal balance at the time you exercise your option or you can buy it with cash for the same balance anytime in the next __X___ years.

And one school of thought says pay off highest interest first.Other school of thought is to pay off lowest balance first, so you can apply the improved cashflow to paying off the 2nd largest balance, and so on.If both approaches point to the same mortgage, then your choice is done.