Big old money here for sure.

If it is indeed I/O, I would just make sure you have enough NOI to cover the refi with some conservative debt sizing assumptions.

Make sure you know the rules in the state where the property is located.

Given your goals, Indy could be a great fit—affordable pricing, solid appreciation, and strong Section 8 demand with reliable property management options.

From the calculators I've looked at, it seems like it makes more sense very-long-term to hold on, but I'd love other's thoughts/resources (I'm not passionate about passing on as-much-as-possible to my kids when I die).From a blog post on this site about when to sell, one of the factors was when things have appreciated more than the rents in the area- but I wasn't sure when it was 'enough.'

Just make sure not to have zero balance on your account when buying your first deal.

I am not sure I agree with that strategy.

If your property is north of the 60, be sure to use comps north of the 60, and don't go too far west, either. 

You may actually have it worse in NYC as opposed to the rest of the state, make sure you look up the exact laws and/or speak with a lawyer.

Just make sure your personal use doesn’t exceed 14 days, or 10% of the rental days, to maintain its rental status for tax purposes.