I'm dying to do it but I live in Brooklyn and it's extremely overpriced so I'm just investing out of state in Florida.

The strategy and numbers make complete sense; however, I am concerned that using a Personal or Business Line of Credit will cause issues when applying for the new Cash-Out Refinance mortgage.

I see way too many people buy extremely expensive real estate in NYC at the top of their budget and say they will make money when they sell in a few years because the price always goes up. 

Also, I should note that being an Engineer made me want to retire extremely early.

my big concern was over the idea of out of state investing and not being readily accessible to the property 

Fear is actually a sign that you are doing what's needed to move in the right direction.An absence of concerns signals that you are only doing what's comfortable for you—and that will only get you more of what you have right now.

As always, if you have any follow-up questions or concerns never hesitate to write back and were all here to help you.Talk soon,John

Some of the tenants are concerned about their safety.   

There is a retention pond nearby that is no longer draining out efficiently and has become more concerning with very heavy rain.

She wrote a letter to the judge stating her repair concerns and why she hasn't paid.