This will assist for 6 months to a year but is not a permanent fix for the root cause of the odor.  

I paid cash and am going to refi cash out with a local credit union once it is fixed up and leased out, then buy another house with the $$$.

My strategy is to find a multifamily unit that can use some repairs, nothing too crazy, to find a good deal, fix it, live in a unit ideally with a roommate and rent the other units out.

The down payments on those are at least 35%.As @Dave Van Horn points out, if you stay with 1-4 unit properties you can get conventional, 30 year fixed rate financing.

Hi Friends in Biggerpockets,I am trying to get cash out loan (30 year fixed) from my primary house as and use it to do real estate investment.My plan is to use the refi-ed cash to do both purchase and rehab (then rented it out) and I wanted to deduct the loan interest.I know from purchase side, the amount of mortgage interest can be deducted as expense for as long as the loan exists and I hold the rental property.For rehab, the situation is more complicated.

It will cash flow around $200 a month after P&I, fixed expenses and saving for variable expenses.

I told them I couldn’t even sell the property fixed up for the amount of the banks reserve.

The seasoning period for each bank varies, and sometimes it is basically as soon as the property is fixed up or rented.

If you think there's a flaw in their method, examine what could be done to fix it.  

PROPERTY INFO4 BR, 2.5 BA near Little Rock, AR$31,980 cash purchase (20% down, 30-year fixed)Property valued at $159.9KINCOME: - Rent: $1,295/mo (Year 1), with $50 monthly increase in Year 2 EXPENSES (Total $1,230.61): - P & I (30-year fixed at 4.75%) $667.29/mo - Property Management (10%): $129.50/mo - Property Taxes: $163.67/mo - Homeowners Insurance: $50.40/mo- Repairs/CapEx (10%): $129.50- Vacancy (7%) = $90.65RETURNS: - CoC = 2.42% @ $64.39/moQUESTIONS: 1.