My escrow account keeps coming up with what seems like fairly large shortages.I'm not very good with math, and I've tried going over the escrow statement with my mortgage company, and I've walked away even more confused. 

Do you feel a computer/math person in California will have that answer?

I think it is fairly likely that this deal is not going to cash flow for you so please do the math correctly before committing to this.Happy to help if you have questions along the way!

Either go through a trusted lender who can do the homework for you or search out smaller, local banks.

AffordabilityDo your homework, and if you find a great market before others, you'll be set for life.

People and institutions have short memories, but apparently not short enough to forget that lesson.Even if you can't pull cash out, the math seems to argue in favor of doing the deal (rolling both mortgages into a bigger primary residence mortgage).Just be sure to discuss it with your family first since they're effectively part of the equation and you don't want to be caught by surprise if they say, "great, no mortgage on the property means no payment needed from us."

They're trying to get the best price possible for their client so they're often willing to wait a few days for everyone to get it together.You can do some homework to otherwise figure out what your rehab costs will be.

- I'm seeking to learn by experience, but only after learning the fundamentals (the math) and then jumping in.PS - I really enjoyed listening to the podcasts of James Wise, Cory Binsfield, Mike McKinzie, and liked listening to an L.A. investor who invests in out-of-state (I forgot his name, but remember his Milwaukee partner's name is Dawn @ Core Properties). 

Hi NA Col, Welcome.1) I'd personally lean towards a cash out refi especially because interest rates are ridiculously low at the moment.2) I'd focus your math and scenarios around how much, you mentioned student loans, can you comfortably pay off, and still have enough cash on hand to make another deal. 

However, I still recommend doing a little homework or have your agent do this, as there can be differences in exclusion between the carriers on how they cover each business.