Originally posted by @Craig Bellot:Refinance that equity into an apartment building under one property manager.I've actually considered doing this.

It's not rented yet so no harm of paint smell, it's actually already dissipated. 

It is also not a requirement that you actually replace a mortgage pay off with another mortgage.  

We actually were looking to rent one of the units before we took our current apartment.

For instance, if an investor has non-retirement funds to invest as well as self-directed IRA or 401k funds to invest and likes direct ownership of real estate as well as funding loans, they might choose to invest into real estate notes with the tax exempt structure and invest into actual real estate outside of the tax-favored vehicle.

@Rashad Colton, there is also the surrounding metro area of Atlanta that isn't actually "Atlanta, GA."  

This mean so much to me and actually gives me confidence.   

Tax liens, encumbrances, etc. mean that the land value isn't even getting to the actual value. 

But if you're only collecting 50% of the gross scheduled rent then your actual number is much worse.

I am actually closing on a personal property later this month.