You avoid the tax hit, and still get the use of 75% of the equity if you do a cash out refi - (but high interest rates sort of play against that to some degree presently… but you could alway refi again down the line if rates dropped.  

I purchased my first buy and hold SF rental property last year and turned the property into a student rental as it was very close to a local College.

For all I know you have two daughters getting married and need a bunch of money or they are about to go to college.  

Since I’m still in school I don’t have much money, I’m trying to learn as much as I can about real estate so that way once I get a job out of college and a steady income I’ll know what to do with my money.

It is located in an area that attracts college students/employees, working class families, and military families.

Quote from @Luke Maas: Quote from @Cliff Benner: Quote from @Luke Maas: Quote from @Cliff Benner: In College I worked for my Tax Accountant for 3 years until I graduated and got a offer I couldn't refuse.

Also I do plan to live in Las Cruces after college.

I'm curious to hear how other property managers and landlords are navigating this.Here in College Station, TX, I don't accept Section 8 applicants.

In the next 5 years, we have 2 twin span international bridge projects, a new hospital, and the expansions of the university and college.

I have done some research on ADUs and have come to conclusion that getting a house near a hospital or good college area with a big yard to add an adu and convert gargae to junior adu would be best.