So what they're trying to determine is whether or not the borrower can afford the payments AND whether they have a reasonable level of equity to debt.

Also, the Colorado Springs area is much more affordable for an entry level investor as myself, than my current location in Washington.

If she's a tenant any landlord would want and she can afford the rent long-term, then your buyer will be getting a good deal and you'll get out of the property with minimal damage.If she's a problem tenant, however, then you're selling a problem to someone that they're locked into for the duration of the lease.

Regardless of whether you decide to refi or not, you should get the house titled into you or your trust's name - otherwise you are leaving a probate nightmare behind for your heirs should something happen to you.In addition, this home is now a rental and affords you some tax benefits - I'm not certain if the same benefits are available to an executor that are available to an owner, but I would venture to say your tax strategy would be better served having the home in your name.Talk to some local lenders and find out what the terms, conditions, pros and cons are to a straight cash out refi vs. a Heloc based on your situation (credit, income, appraised value of home, etc.), and then you can make a more informed decision from there based on your own personal goals.

Second, can you afford a million dollar deal.

Apartment complexes can afford to use this tactic and you know what, let's assume you are victorious in small claims court (which may be difficult to convince a judge of a complete loss of potential income on your part due to these tenant's approval), in the end, it may come back to bite you.

Couple looking for 3bdrm mobile home nicely put together in good location ..where they can afford rent and work on their credit ...they can afford 1000-1200 per month...but will gladly go for a lower monthly rent ..

I like that the plans are national and affordable, because I own property in 3 states.

And as @Arjun K. said, if you're paying 15% for a credit card, any return you have it eaten up by your personal income.But here is what you CAN do: shift your price point to more affordable investment properties (I do under 30k), switch to credit unions vs banks for their looser underwriting policies for different loan products, but make sure you are paying down your debt each and every month while you're exploring these other opportunities.

What do you guys think of my business model Our Business Description We buy mobile home parks and mobile homes to fill the need for affordable housing.