You might also consider house hacking or a local deal first to get some hands-on experience before managing remotely.

Cash out refi only if the rental income significantly exceeds the monthly payment and you want liquidity to invest elsewhere.2.You can maybe do a HELOC if you want a smaller loan that doesn’t involve refinancing the entire house.3.

@Chad Chase - I think funding a fix and flip with a HELOC from a primary house could work.

Sullivan shares data on America’s Affordable Housing Crisis.

I’d lean Stessa assuming you’re not house hacking. 

Are you planning to house hack, or are you exploring other strategies?

Hi Linda,Lots of great advice from @Carla Gordon @Brian Schroeder @Jay Thomas Specifically I think it's always smart to check out FF Traveler sear https://www.furnishedfinder.com/housing/New-York/New-York) and Airbnb/VRBO for 30+ days stays to gauge what sort of similar properties are currently out there!

It makes sense for house mates, spouses etc. to be Additional Insured on a renter's Insurance policy if they also live there and keep their stuff there (although I think anyone on the lease is typically covered anyway).

I only have 1 property under my belt and am currently house hacking my SFH.

Just bought 3 houses last week from a builder.