The listing agent on that property sent me over a list of 1-4 unit properties in an area that he has been in for 30 years.I have had a nightmarish time finding financing:Heloc  not enough equity in my homeTraditional financing was an issue because I own a home that is worth 600k, but I owe 498k.  

The Home Must Be Used as the Taxpayer’s Principal Residence for a Total of at Least Two Years During the Five-Year Period Leading Up to the SaleIn addition to the ownership requirement, to shelter gain from the sale of a home from taxable recognition, the home must also be used as the taxpayer’s principal residence for an aggregate of two years during the five-year period leading up to the sale of the home.

Along with that a Pay or Quit notice, which basically says she has 3 days to Pay the rent owed or Quit which means to vacate.. more than likely the person isn't going to just leave..

Just think, sending out 100 mailers at $10k a pop, that's  $1 million you could owe pretty quickly.

The duplex just appraised for $170k and I owe $93k on the 15 year note.

It could be that it's way upside down (much more is owed on it than it's worth).  

Time, principal and rate.

Every year you wait is another year losing out on interest tax deductions, and loan principal decreasing.

I basically said hey do you have a mortgage ( because I knew I needed steady income) I eventually got the details out of what I was looking at104,000 asking price(Original DWN PMT asked for )  $15,600and his note was $1,389.74 mo PITI(HE OWED THE 104K) as the balance left to pay off the mortgage.

Also to get more money out I would have to wait possibly 2years for the principal amount to go down so I can also take that money out too.