Many users in this forum set up "keyword alerts" and you should too to stay in tune with the strategies, markets, or other discussions that come up that are of interest.

You're welcome Anish.Every investor has a different risk tolerance, financial situation and set of financial goals.

Welcome, and congratulations on getting set up and started.

Building equity and creating cash flow through real estate can set you on the path to financial freedom.

Set up LLCs in states where properties are.

Quote from @Bruce Schussler: A lot of Podcasts and Youtuber's say to cash-out refinance to keep rents balanced with payment; (PITI) then use those funds strategically to re-invest either in more real estate or just put into a high interest bearing account or money market account...Here's some of my thoughts and comparisons;Cash-out refinance with new loan so rents balance with payment:- The cash-out refinance is 100% tax free- The funds can be put into a money-market account off-setting a portion of the interest charge of loan- The loan balance gets eventually destroyed by inflation- The liquid cash eventually gets destroyed by inflation - The interest on the new loan can be deducted from the rent income- The refinance costs are 3-4% of the total- There is less equity in the property and LLC that can be attached in case of a lawsuit- The break-even on cash-out refinance with current interest costs on the new loan is around 12 years Vs.Paid-off property with positive cash flow:- The positive rent income is 100% taxable minus only depreciation and property tax- There is more equity in the property and LLC that can be attached with a lawsuit- The break even is not until after 12 years at today's interest rates- There is a rate risk in today's inflationary environment where interest rates on bonds keep rising*It appears to me that the cash-out refi is in the best interest for a property investor; (Dave Ramsey would strongly disagree!)

Plus, the 3-5 years gives you time to gain equity and learn the market, setting you up for your next property.Good luck!

We recommend it to all of our Clients and will even help them set it up.Regarding HYSAs, I recommend AmEx.

Be very clear that they must transfer the deposit along with a complete set of tenant records (application, lease, payment ledger, etc.). 

Quote from @Nichole Kinard: We own 50 acres of wooded landed in a rural setting.