IF you go that route, you aren't getting 100% back out, you'll be capped at probably 75-80% of the new appraised value.

Currently learning about acquiring property(ies) outside of Los Angeles and doing the own capital down / light refurb / hired property manager route.

Using correct vacancy rates, tax numbers, and rent projections will allow you to compare deals across markets.

Yeah the house is actually around 560000 But again, this is just if I am running my numbers correct.

you can separately meter the units and have them pay water as a way to cut your expenses. then I would make sure the exterior would draw the eye and interior focus on the money areas (kitchen and baths). functionality of the units is another route to take on the interior.

I am looking in the Philly area for some investors, new to this as well, and they are planning on going the tax lien route.  

If you go this route, I would focus on a single property - the one which is costing you the most in interest and/or the one which will yield the biggest free cash flow once paid down - until you reach any prepayment limits imposed by your financing terms.Additionally, if you are able to switch your payments to {accelerated} bi-weekly (26-payments a year) from monthly, that alone will trim your amortization and total cost of borrowing.Another thing I frequently do is to take-on variable rate financing on a property (which is usually at a lower interest rate than a fixed rate loan ... by as much as a 1 pt), but set my payment as though I have a fixed rate loan.  

If the paid off property can support a $150k mortgage, I'd go that route.

Not sure on the details or location yet, but does that sound correct for Depew and a requirement for a 3 unit?

They will know how to get rid of these tenants legally and correctly (probably through cash for keys), and will find qualified new tenants while you are on vacation.