I've been taking a real estate investment course available through my public library and the low rates of success for renters was presented as a way in which this is a solid investment strategy.

Of course good dividend stocks can also provide income, so good to diversify.  

@Jay Hinrichs This may be a little off topic, but I am surprised to hear you say that paying the property off is a good course of action... especially at 0% financing.

Of course if this was a pattern it would be obvious.

Now of course multi units are different than this and every market is different but for the deal I explained above is a total equity refinance play for me in this tough market I’m in.

Well, if you buy the note then of course you can control the time line, and hopefully at a discount.

so this means the appraisal for the refinance part of the brrrr may come in too low if i move forward with this plan.of course on the other hand the tiny bedroom is wasted space that nobody will occupy. prospective tenants who need 3 bedrooms will not apply and my time showing this unit to them will be a waste. i do plan to hold this house for at least 10 years. so i am leaning toward doing this in an effort to make it easier to rent and keep tenants.

Of course if you ask worse case scenario there is always a worse case.. but then logic comes into play.but some folks are nutso about no one knowing what they own or making it hard via public records..

Of course you can do what you want, but there's a good chance it will not go as planned, and either you or the tenant will not be happy.If those decks are due for a refinish, and the refinishing is pretty easy, who don't you send a handyman over there to do it, or go over there yourself if you're a more active sort of landlord?

Of course I don't recommend springing an increase on someone with only 10 days notice... but you can!