I have 880 credit score, decent savings, and no other debt except for 300K mortgage on my primary residence (worth $1.5 million).

You post, and potential residents will reach out...or maybe they don't.

In this case my plan is to use a HELOC on my primary residence to purchase the property in Puerto Rico.

I think we have the option of taking out a heloc  and begin to invest elsewhere.The other idea , that I was thinking is paying off our primary residence which we owe 425k.

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

I was a southern CT resident for 15 years and own a rental property in Trumbull CT as well.

Investment Info:Single-family residence wholesale investment.

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

“…states still have authority to require notice filings and collect state fees.”This means you need to check with each state where your investors reside to ensure compliance.Final Warning: Don’t Cut Corners – Follow the Law!

They get a higher return since they are covering housing cost, have the $250k per spouse primary residence deduction in gains, is a savings account, higher leverage position, lower interest rate possible, will pay more premium for location, etc.House might be overpriced for REITs but not for home owners.