Many banks require a year or two tax returns showing that you have experience managing the properties which may be the most difficult thing depending on how long you've had them (your income itself really shouldn't be a huge factor based on those numbers)Your existing properties could be offered as collateral as well, but that's a bit higher risk and I wouldn't suggest it.Another option would be to "house hack".

Not the smartest of decisions but I wanted to own free and clear and then reap the rewards.

Risk vs reward.

I don't want to necessarily say fun, but perhaps rewarding in paying that kind of respect to architecture and aesthetics by bringing an old home to life and then passing it on.

This thread however has the underlying notion that a caveat existed beyond what we've talked about already, and you guys are right, there is.

I personally wouldn't buy anything unless I could fit it into that strategy because the risk/reward doesn't make sense when compared to cash.  

these Tacoma deals do exist but they are getting rarer.

Since my last post was removed here is a better pictorial representation to bypass the irony filters:In fairness the question may have been serious so I will try to avoid being a complete jerk and say that if such a miracle site existed everyone on BP would immediately be instantly wealthy (on paper at least) and many investors would be investing in ridiculously risky investments.  

I like to ask, how much do,u need above your existing mortgage, how soon do,u want to settle.You need to show the seller the benefits of taking back some paper; interest payments, show the seller how much they are making over the term of the mortgage, let them know they can discount the the note for cash when they need it, use the note as a down payment on another purchase, split the notes, pledge the note as security for a loan, give it to their kid for college cash or just keep it in their cash flow portfolio.  

See you are in California too, and you need to look up and understand Community Property law in this state.Regardless of how the the title is registered, whatever the husband owns, the wife has 50% interest in and conversely, so your goal dies before you get started with this attempt.Personal, non-legal opinion:You could create and LLC and purchase property in that name  ORdeed existing property into an LLC - - both of which create taxable events.