Real Estate investing newbie

[Luz Quinones]

Hello all,

I'm new to BP but have been curious about real estate investing for some time. I purchased my primary residence 3 years back in Phoenix AZ and have a good amount in equity. I have am considering an opportunity to invest in property in Denver with a friend. Ideally the home would have a finished basement so he would live in the home and do STR with the basement. I'm willing to refi my primary for money for down payment but I know I need more education on how it would all work as it would not be my primary residence. Any thoughts, feedback and ideas are welcome.

TIA