Using your own funds to pay down your loan so you get a bigger loan sounds like a zero sum gain (aka IE using 1 dollar to pay down loan so you can net 1 more dollar from the new proposed loan) So how are you going to net more cash when spending 1 dollar to get another 1 dollar ?

@Andrew MaturanaTo gain a competitive edge in the hospitality industry, explore creative ventures, Triple Net investments, house hacking, syndications, joint ventures, and leverage business acumen, networking, and resources.Good Luck!

However, once you start renting it out, those renovation expenses could be added to your cost basis, potentially lowering capital gains taxes when you sell.

Mine is to network and also to gain knowledge.

Yeah I can see using the welcome aboard forums to pump up your comment numbers to make it look like they've been around a while before trying to sneak a pitch for some scam guru trash  I think warm welcomes are nice, but the carry more weight from people who have been around.

Your old carpet did not become more valuable over the seven years you owned the property, even if you are selling for a gain.

If you live in the property for at least two years, you can sell it without paying ANY capital gains tax (unlike traditional flipping).We've done this a few times, but almost every time, we end up keeping the home as a rental.

However, these losses aren’t lost; they are carried forward to offset future rental income or gain upon sale of the property.3.

Having someone who has owned and operated a similar asset is worth its weight in gold. 

Fortunately, you will be able to to a 1033 exchange into new property and avoid any tax on the gain.