Originally posted by @Michael Plaks:@Jack B.Now, my esteemed colleagues have not brought up an important caveat: the non-qualified use rule.

Originally posted by @Sterling Williams:Berry-Welcome!

Originally posted by @Anna Gorres:@Austin HendricksonAre you doing buy and holds or fix and flips? 

My current options:- Right now I'm working with a local bank who quoted around 5.5% (forgot the exact number at the moment) but with 1% origination fee and some other lender fee (I think $1000-$1300). 

@John Peterson, I reckon you should have originally gone for a 30 year owner-occupier loan, in which case your current cash flow would be better, but, for that one: that horse has bolted!

Helloit is my understanding that traditionally when you sell your property you can use the 1031 exchange to defer the taxes on the capital gains from the sale. i know a little about that but i am interested to know if when you refinance and not sell the property to pull out equity from a property can u also use the 1031 for that. for example if i use the BRRRR strategy to buy a 4 plex for $300,000 i use a conventional loan and put down 20% of $60,000 making the loan amount for $240,000 and put in $40,000 into rehab the property so i have $100,000 in and the property then appraises at $400,000 so i refinance the property with 20% down of $80,000 in equity making it a loan amount of $320,000 out of that of course the original loan gets paid back of $240,000 leaving me with a check for $80,000. so does that $80,000 count as capital gains?

Originally posted by @Lane Kawaoka:Kyle Cortez put it in a trust and inherit it when they past.

Originally posted by @Lori C.

When I originally purchased a rental home, I quitclaimed it to my LLC.  

Originally posted by @Ryan D.