Here's the thing if you are removed from the requirement (to a flood zone X for example) we can write for you a Preferred Rate Policy (PRP) which is around the $550 for a primary residence and $750 for a second home. 

Looking for the best way to scoop up this next property using the equity, preferably without putting our primary residence in the mix.

Some tax pros prefer to continue issuing 1099s anyway to be on the safe side.

For those of us who may prefer an adult beverage while we talk RE, I checked our Sam's Boat in Silverlake Village yesterday afternoon at around 2pm and they have nice covered deck area where we can chat.

It's a newer property vs. most in the area so tenants apparently prefer it for that reason.

Preferably at a minimum I would like to be able to pull out my initial investment of 25%.Appreciate everyone's help!

You might need permission to do that but I would also recommend that you talk to each tenant and see if they have made any choice to stay there or not.  

I'm going to get her to sell it to me. not sure if you know but how is the Housing Choice Voucher Program in Portsmouth candidate wise?

I'm not a big fan of condos, but its a personal preference.

However, its a personal preference and if you'd feel better paying off your mortgage to decrease your debt so you sleep better at night thats not necessarily a horrible move.