I maybe have $6k to my name right now, but no college debt which is a huge blessing. 

This scenario seems very deceptive to the lender providing debt service to the buyer also.

I got agency debt for the first time - a loan process unlike any other I have done in over four decades of REI.

Once the renovation is complete I will either refinance pull money out and put long term agency debt on it or 1031 into a bigger complex.

I've been debt free my whole life  but I'm learning about the perks of good debt. 

Are there debts against the property?

First, unless the mtg has a PR provision, and unless the was a real estate related loan as opposed to a loan for the operation of the primary business of the corp, it probably does not, the lender doesn't have a contractual way to value the property as an asset securing the debt making setting a PR price difficult. 

I heard they stopped lending during covid potentially so you'd have to check back in with them to see if they've reopened up.If your DSCR for debt service coverage ratio is stabilized you might be able to get up to 75-80% cash out.Best of

We provided them a reduced rate which equated to a nominal debt of $500.

For example, borrowers can qualify for a reduced interest rate with a credit score as low as 620 and a debt-to-income ratio as high as 65%.The FHFA estimates that qualifying homeowners could save between $1,200 and $3,000 a year — or an average of $100 to $250 each month.Who can apply?