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.

Buy not many people can do this and it requires very good book keeping.

Quote from @Mary Jay: Quote from @Jay Hurst: Quote from @Mary Jay: hi guys,so I have a lot of equity in one of my rentals but the interest rates are super low on it. so I dont want to do a cash out refinance on it because I dont want to lose the 3% interest rate on it.I want to get some cash out of it via Heloc or another vehicle,  so I could buy another rental, but its not my primary, so I cant get a HELOC on it from lots of banks....I think PenFed does helocs on rentals, but because I have more than 5 rentals, I dont qualify for their HELOC loan.IS there a bank that would give a HELOC/cash on a rental?

Investment Info:Large multi-family (5+ units) buy & hold investment in Tuppers Plains.

And the locals in Highlands have been fiercely debating STR's and regulations for the last few years, so I wouldn't be comfortable buying there.

You are still exiting with a refinance and thus the terms wouldn't change on the exit whether you are buying in cash and then refinancing versus doing a construction loan and then refinancing.

Investment Info:Single-family residence buy & hold investment in Valdosta.

If you sell for a net sales price of $1 mil and buy for a net purchase price of $700K you will owe tax on the difference of $300K.BP may have a capital gains calculator you can use.  

Buy that if want, it's probably closer to the 3-5s.  

Investment Info:Single-family residence buy & hold investment.