Might be difficult

Although it's become more difficult to find good deals on listed properties, they're still out there.

You could look at the market comparables for your triplex - closing costs - your current loan balance = your net proceeds or net equity.

The bookkeeping for these should not be too difficult.

The seller will get a 1099 for the difference between the balance and the amount the bank accepted.

@Leah Matthews Welcome to BP - it's refreshing to hear you're new investors yet have managed to purchased two rentals in a seemingly difficult area.

It's a challenge and I'm always open to new ways to improve my work/life balance.

This is a great trend to see as it creates renewed interest in more difficult neighborhoods and revives communities.Is this happening in other areas across the country?

We've had escrow issues where mortgage wouldn't close without repair escrow, said we needed to produce receipts of repairs to get our funds returned, but then when proof given, the mortgage company wants escrow funds put toward balance on our loan instead of releasing our funds back to us (even though we'd already put 25% down).

Finding good, reliable contractors was difficult, but the good news is they all know each other, so once you find a couple that you know do quality work, show up on time, finish the job, and have competitive prices, they can point you to other people they have worked with in the past.