My wife and I are trying to rehab and sell properties in the Northern Virginia area.

I can subcontract it out and hit my budget no problem!

It will work, be cheap to maintain, and then set as a goal, once you hit $250k in net worth, you will buy the $25k car again.  

All four of us work fulltime, and I live in Northern CA. 

So, you're into predatory fraudulent dealing going this route with a residential tenant.States have also established equity limits, you hit 10% and you may have to foreclose, not just evict a tenant!      

@Raj Kumar, Alsip is kind of hit or miss.

Hit me up if you want to talk shop.

If we cashed out one to the max, paid off the other's mortgage in full through escrow, you would as of the moment the new loan funds have 6 financed properties AND get a bunch of cash at the end of the transaction AND we just delayed you hitting that 10 financed properties hard cap AND you owe me a beer.Alternative to the above: portfolio lenders, commercial lenders, hard money lenders.... with rates/terms getting crappier and crappier as my list progresses. 

Hit some bumps in the road along the way needless to say that deal fell thru as I was out to sea and couldn't handle the issues that were popping up.

My tenant hit the garage and it killed me to not be able to drive over and look at the damage.