Within those neighborhoods I have narrowed the search down to owners with mature loans or paid off properties.

Owner never paid taxes, currently owes about 8K.

Mortgage is paid off, he has no family or next of kin to take over the property.

Think they would allow some equity if they paid less on the salary?

Old mortgages that were paid in full but not released show up on my title reports all the time.

I think most of you will say tap into the equity of my first home and buy four more.The other thing to consider is that I have a vacant residential lot that is paid for.

I have a few questions about what the government considers income, and what can be deducted from that income.I think I can deduct things like:Property taxesMaintenance feesMortgage interestDepreciationI am not sure if I can deduct:Repayment of mortgage principleI believe rent paid to me is taxable income, and then I deduct the above items from that.

The person I was explaining this to asks me how did I know the bird dog would get paid after he assigns the contract to me.

I used USAA for mine, paid for an appraisal at the time of the application, and they ended up giving me 75% LTV of the appraised value in cash (1st mortgage) which I then used to buy another house.As for which type of loan to use (1st mortgage or HELOC), it'd probably depend on what you plan to use the money for.

Few modifications on my personal investment;1 paid cash so mortgage2 remodel cost ~$500 in paint3 property management being done by me, no recurring expense4 tenant covers all utilities Result, income = $1650/mth less costs of insurance, taxes and maintenance of about $400/mth generating a net of $1250/mth.