I want to take some cash and start investing in multifamily properties.It's a 2/2 Condo in a highly desirable location.Purchase Price: $97kOwe: $68kCash Flow (after debt service): +- $250/monthMarket Value - currently selling for +-$150kThe HOA is $450 a month, which is included in the rent price of $1550 a month, so it's not that big of a deal.So I'm trying to determine if it's more beneficial to sell it, take the cash and look for a duplex, or get a 2nd mortgage and take some cash out, since I'm so far in the green.Thank you in advance for all your input!

I have a lot of debt.  

When you've built a strong track record and are buying larger parks with higher values, agency debt will likely be the best non-recourse debt from a term perspective.

Taxes are just like mortgages, or any other debt....they get paid out of the seller's proceeds at closing, with a straight sale.  

Just be careful or just don't do it to eliminate this risk.As for the money with your parents, if they haven't said "yes you can borrow that when you need to replace the plumbing in two of your units", then I wouldn't count on it.

They will have to show the bank there is enough collateral with the remaining properties to cover the debt.

If you try hard enough you can find a lender who will work with you to get past debt-to-income issues and the number of properties financed.

I love the idea of acquiring multiple properties with cash refi's and then use the cash flow to snow ball your debt.  

I am debt free and contributing to a retirement fund.

The B2R is another good option.The portfolio lenders won't care about how many financed properties you have, and can give you exceptions on any debt to income problems when they're related to income property.