Sure a cash out refi could be great, but taking secured debt to paid unsecured debt really will put you in a potentially risky situation should anything happen where you are unable to maintain your payments.

The rental rider normally has terminology stating the tenants been to current prior to closing.Read your contract thoroughly, you should not have to give up your security deposit.You may not get the seller to agree to handle the tenant but, you should start by asking.

v=RJxg6FgZPvYIt seems to boil down to making sure you have all GP responsibilities clearly documented, and making sure that everyone is pulling their weight across the entire project, not just raising money, which is not permitted. 

I'd also verify that with a final walk-through a couple of hours before closing.I'm assuming that there is no such clause in the P&S, but if there is, I think you can sue for specific performance/breach of contract.Not to rub salt in the wound, but this is a perfect example of where a good buyer's agent is worth his weight in gold.  

I'm getting the pattern of late rent on a regular basis, offer to let him break the lease to find something less expensive, and give his security deposit back as long as the place is tenant able.. end it with something like unfortunate if rent is late as a business I will be forced.to seek the legal remedies. 

They say it takes 100 offers to secure one deal. 

An applicant that is not currently employed must provide proof of funds (current bank statement), which will equal a full year of the lease agreement and may require a guarantor and/or additional security deposit.

@Jacob Sawyer did you have any luck securing a HELOC on the mobile home?

My situation:* bought a SFH for $250k as my primary in Portland, OR in 2002* moved to LA in 2006 and turned it into a rental (the home is still in my name, not an LLC)* been renting in LA since my move* want to purchase a primary residenceThe plan:* refi my rental (I'm on an adjustable @ 5% right now)* cash out $150k @ 4% for 30 years (home is worth $550 now)* use part or all of the $150k for a down payment on a primary residence in CA or NV* secure a 30 year fixed rate mortgage on the new home* get back into a home of my ownAny issues with using a cash-out refi on an investment property for a down payment on a primary residence?

@Angel CraigYou've got the correct initial strategy - the most cost-effective approach would be to secure a low down-payment loan (e.g.