To reduce taxes, offset gains with selling expenses (e.g., commissions, fees) and consider a 1031 exchange to defer gains by reinvesting in another property.This post does not create a CPA-Client relationship.

After selling one and using a 1031 exchange to buy a fourplex in Chicago, he reduced his interest burden by 20% while boosting his net incomes by $1,500 per month.

Investing in multifamily properties offers steady cash flow, diversification, as multiple tenants reduce vacancy risks and provide consistent income.

Do not place yourself into a position of needing to sell in a reduced value environment. 

Before we sold it we hired a management company to reduce the burden, but even then we decided to sell and walk away. 

Also with plans to reduce industrial "intensity" in and around residential areas. 

The down fall is a Heloc can "Never" be used as an asset or for PITI reserves required when buying a new Primary or investment property.A heloc can also cause major issues with credit and one slight hiccup or missed payment the bank or lender who is holding the Heloc can close or reduce your line of credit.

Some programs will do the full LTV that a long term rental would have and some lenders will reduce the LTV by 5%.

Self managers can reduce their PM costs significantly. - Furnishings and Design: Active vacation rentals are usually sold furnished, vacant homes are not.

Using a 1031 to upgrade to a two-family could help you reduce or eliminate the $1,000 out-of-pocket expense you’re paying now.Also, condos often come with HOA fees that limit cash flow, so be mindful of their impact.