In USD it amounts to $70,000 (unit price + closing cost + interior design & furniture).To cut the long story short, my total cash outlay amounted to $29,922 (which is 42% of the total unit value).

We are just refinancing a loan.Here’s how it works:You create an LLCYou buy a homeYour LLC gives you a loan for the homeYou file the deed for that loan at the county courthouseYou use the money from the LLC to buy and fix up the propertyOnce the property is completed, your conventional lender comes to refinance the loan Your conventional lender runs title and sees there is a loan.Your conventional lender refinances you into a new loan, and cuts a check to your LLC in the amount of 75% of the value.Please don't confuse this 75% with a "cash out" amount.

IF they don't, they force you to make conservative assumptions (e.g. expenses, capex, vacancy, etc.) and you end up putting in a lower offer.Another tactic / strategy is to simply give him his price (with the proper out clauses), get the information and then re-negotiate the price.

Real estate investing is a bit easier to learn than successfully trading the stock market, but to both take an intimate knowledge that there are few short cuts for.

You do not want them as tenants but should never simply allow them off scot free.

Seems pretty clear cut.

Seems pretty cut and dry to me.

I've done quite a bit of reading and research, and though I will continue to do so, I DO feel that at this point the only thing that is going to actually further my knowledge or get me going is real life, hands on experience...So I'm ready to bypass any more "feet wetting" and simply dive in!!

But if you're trying to eliminate PMI on a current loan by simply getting a new appraisal and illustrating (via principal pay-down and appreciation) that the equity position has increased, you would need to show 35% equity (65LTV) via that new appraisal. 

I realize this is worlds apart from what I am talking about in this post, simply letting you know I have a bit of R.E experience.