Given the Internet and other things a trader can easily set up on their own if they have the cash.

It depends on how much time you want to spend...As for surveying out of state tenants to check on the PM, this can easily backfire.

Capital One and other credit card companies will give you a line of credit fo up to $100K very easily.

If they have equity then they can more easily consider holding paper compared to if they have no equity in the property.

Sure, it costs you 'interest,' but that is easily something you can just decide is the cost of doing business.

However maintenance makes up about 10% of the expense figure and will not be totally eliminated and the other 40% still exists. 8)

One where taking a day or a week off doesn't eliminate your income for that week.If there is a business there, you will almost certainly have to put some money into marketing.

The major tax benefit of owning a rental is from a depreciation allowance, which in most cases eliminates taxes from positive cash flow.It seems that you have not really analyzed the rent rolls in your area.

So this is my question...Is it possible to get a loan of some kind to pay down the mortgage to eliminate the PMI.

the property is a convenience store / shell station.the land is about 1/2 acre with about 100ft of frontage on a very busy highway.we currently pay $4,300 a month for the lease, which we can easily afford and still pull a very good income.