You won't have to pay tax and recapture of depreciation.But still, for cashout refi you still have to pay interest to take out the proceeds and also pay closing costs.Can anyone educate me if I am getting this wrong?

Though, it's been a far better education than any book or course on real estate.  

Would love to have ya and see if we can't help you guys along your journey. 

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

You obviously are smart and well educated so far, use that and not this and meet real people.

@Jaysin Anderson I would also suggest you reach out to @Ricardo Matos; he is an educator, investor, and friend of mine here in Portugal who will have some good insight regarding BRRR here. 

They are proud of what they have survived and they are committed to their children's education. 

I have wanted to start investing in real estate for a while now and I have recently taken the next step by educating myself on the process I plan to purchase my first rental within the coming year.

Check the in person events and meetups in your local area, our online community is full of knowledge and folks willing to share and still nothing replaces the opportunity to interact IRL, you never know who you will meet and where that can take you on your REI journey. 

Bigger Pockets is a great place for education and networking and is full of great content.I recommend that you check out the following resources:1.