With that said our deal was: we would buy the property increase value (we have been able to increase rents and the commercial space wasn't rented at the time, we are about to rent that out) and then refinance, the thought was we could get the initial cash out after increasing the value of the property and repeat (sound familiar) - after which we would be 50/50 partners on the property.To my question - since this is a commercial property, would it make sense and is there value in converting this to a condo, where we could get more favorable terms on the residential units (30-year mortgages and 20% DP) versus the terms we have right now?

Hello BP,We recently acquired a condo in  Falls Church,VA area through court house for flipping.The owner/occupant was a old lady did not move out after we purchase the unit.While we are in legal process to get possession, i received a call from the HOA today that the neighbors of this unit observed a foul smell and called the police to see what is going on.we are breaking the lock as soon police arrive and get into the property.The smell could be from the leftover food or could be anything.To prepare for a worst case, i am trying to understand how to deal with the situation and get some affordable master cleaner referrals.Thank you,Vinod.

So far, we have not had any issues with appraisals coming back lower than this 5k bump.Where we are nowCurrently, we have 3 flips, one of which is on the market and the other two will be on the market in the next two weeks.

We are currently in the knowledge seeking and capital building phase with the goal of acquiring our next rental property in late 2019 or 2020.

We are specifically wondering about selling it. 

We are about to close on a flip, and it's the first one that we set up as an LLC with S-corp tax. 

We are looking forward to learning more about real estate and connecting with members. 

These are the details about our house.Purchase price: $855,000Current approx value: 1,100,000Current monthly mortgage payment: $3100 /monthProperty taxes ~ $11,500 /yrRents in the area for a similar house: $3200 - $3400Given the numbers, I understand that this would not qualify as a good rental property but given the crazy real estate market in the bay area we are worried we would not be able to purchase again should the market appreciate at the rate it has been in the past if we sell this house now and live in an apartment for a few years.

We recently acquired a property that we are going to brrrr.

Everything thing worked great and best part of HELOC is we are only paying on cash I need to use at this moment.