I live an hour away from Kingman and have a couple of friends that live and work there as well.

Well...

Well, three top reasons come to mind:It will allow you to deduct their earnings on your own tax return.It is required by law for any person to whom you paid at least $600 in 2023, total.

Well, apart from “if you give me $3000.”Luckily this is a co-living model through PadSplit so I have some income coming in.

To Sum it up, its a good idea if you can exceed the cost of capital (higher rate than your cost of debt) with what you earn on your heloc/debt you pull out and invest.The question is how much gains above is enough to substantiate the risk of your variable interest rate, well thats up to your personal investing criteria.

Thanks.Hi Courtney,BiggerPockets Pro members get access to all Stessa core (free tier) functionality – plus unlock exclusive access to advanced features, like unlimited portfolios and Schedule of Real Estate Owned (SREO), all at no additional cost.BiggerPockets Pro members have free access to all Stessa’s featured benefits as well as advanced features, like unlimited portfolios and Schedule of Real Estate Owned (SREO) – giving Pro members exclusive value not offered to Stessa Free members.Simplify tax time and help maximize deductions Organize financial data and accountingEasily track key property metrics to optimize and boost ROI. 

4) Will we be able to deduct interest on new note(cashout refin) as well as note on 2nd home?

Hopefully assistant coach to Popovich lol and yes he does. he is already set up extremely well, I am trying to catch up

You would end up saving the higher interest rate on the HELOC as well as closing costs.

If any damage arises from her negligence she will be getting the bills for damages, plus costs of collecting which you bill as well as your attorney in addition to the termination of her lease.