I assume:Profit and LossBefore and After PictureMaybe a personal balance sheet?

He accussed me of cheating taxes, having bad tenants in there, and running the place down....He has my contact information and was very happy to see all the work i did when i purchased the property.he is mad now1- i protested and thinks i ruined values2- claims the tenants were drug addicts (first i have heard of this)Home was left in perfect shape, tenants paid on time i drove by 3-4 times a year and never saw anything out of the ordinary.Today he further went on to  going over to someone i had sent by  that was possibly interested in buying.  

All that work to make less than $20K and that is ONLY if everything goes perfectly right.

HOWEVER it needs to be on a SINGLE  family residency.I think if you called like a bank of the west or even wells fargo they will be able to do an equity line for youbut if you dont have more than 3-4 loans, I would say do the refi cash out and get a new 15 yr loan with your new balance then use that cash toward an investment..the reason i say this verse a heloc is because if you plan on holding the current house for a long time you might as well fix the payments on it instead of let a heloc linger and if u go heloc and later decide you want to fix it , thats 3 loans you need to genereate... 1 for heloc, 1 for new investment, then 1 to refi rate term on your first original investment. 

The issue they comes up is balancing time required to price a job vs the money needed to get it done.

What’s interesting is that I’ve been reading the E-Myth along the way, which discusses your 3 basic business owner personalities: The EntrepreneurThe ManagerThe TechnicianAny business must balance these 3 well.

This website is the perfect next step to Rich Dad Poor Dad.  

I don't want a liability on my balance sheet.

If a unit barely cash flows at $200 or less, it is probably not a good candidate to cash out unless it's in a rapidly appreciating area OR you have a lot of equity in the unit and can purchase one or more higher cash-flowing units elsewhere, i.e. it can make sense to have that unit zero out if the cash withdrawal results in a significant cash flow increase elsewhere.All of this has to be balanced against your total portfolio risk.

I have no money, bad credit, but this house is beautiful, in the perfect neighborhood and I don't want to let it turn into a vacant mess due to squaters, thieves, and such like.