While it can help you grow, it's a double edged sword because you're always taking equity out to fund the next deal.

Any hardwoods with major staining/smell should be cut out and feathered back in.  

In over 10 years of being a landlord and self managing in NJ we have collected every payment of rent never needing to go through an eviction. 

Hi @Joseph Bui,I'm planning a 20% down payment on the property.

Really dont want to walk around with 10s of thousands in cash... 4) Does anyone know what type of deeds Lancaster County PA releases after the sale/payment in full?

Here is an example assuming $500K sales price, $100K down, $400K loan and appraised value of $450K.Down payment = Appraised Value * 20% ($450K * 20%) + Difference between Sale Price and Appraisal ($500K - $450K) or $140KIn this example, loan amount is reduced to $360K and down payment increases from $100K to $140K.

It sounds like a refinance would be a good option for you, but I'd just make sure with our current interest rate options out there that the monthly payment on that new loan would makes sense. 

An upfront payment to a lender is a loud red flag, and I agree with everyone here that you should run away, fast. 

•Interest-Only Payments: During the draw period, you may have the option to make interest-only payments.

or, are just looking for enough equity for the down payment?