almost every story I've heard of someone losing their shirt from over-over Leverage involved a hunger for growth that got them off balance.

@Ashok BhupathirajuJust because you can do something doesn't mean that you should do it.I think you should mention what you are trying to accomplish and we can determine if the steps you are taking are achieving your goal.What benefit are you obtaining by having items run through the LLC while the property is in your personal name.You should consult with an attorney but you will likely be named in a suit if something bad happens just because the title is in your name.

You are only replacing the existing loan balance. 

Like most people I want to achieve financial freedom.

I refinanced about a year ago and have a remaining balance of about $500k on the house.

Buy him out and refi the remaining balance to lower monthly payments.

You need to bring 35-50% equity, have cash reserves and a balance sheet to back up the loan. 

Bought for 150kCurrent value: 240k according to zillow, not factoring any upgradesprincipal balance: 76krate: 4.5PMI: 1,200 annually

@Derek Epperson  You are right in that it is a balance between income and work, but if the 12 unit apt has been well maintained, then it shouldn't be a lot of work. 

This was my first real estate investment so my goals were fairly conservative, I wanted a balance of cash flow and stability so I picked a modest sized 3/2 home in a B neighborhood in my market.How did you find this deal and how did you negotiate it?