I have about $30,000 in equity, and I am paying close to $200 a month in PMI. 

But there are times where this can work such as if you just got you 116k back and then refi the house again later on to get whatever else you might have in equity.

This means that we have $18,683.76(100,000 - 81,316.24) in equity from the loan.

Now your first property's cash flow is cut in half, but you add total cash flow.Interest money going "down the drain" is only beaten by seeing your wealth tied up in equity while you are still in the growth phase.

As it stands now we have an estimated $110k in equity based on the same floor plan that just sold 2 months ago down the street.

I will have 40K minimum in equity in it, so I guess its not bad.  

Fidelity Investments and Schwab are also good options if you want to still be able to invest in equities as they will both issue checkbooks for placing alternative investments like real estate, and promissory notes to name a few, or they can be placed by wire.

If they've got $10k in equity, give them $10k and take over their payments on a Lease Option or Sub2.  

She has a nice chunck of change in equity.

All our props are positive cashflowing and have built-in equity.