It's common practice in Europe, Canada, Australia but almost unheard of here in the US.

Additionally, while rates aren't historically bad right now, they are higher than 4-5 years ago, and they will be even higher for you as an investor than they were as an owner occupant, which is what you were when you bought originally.I get that you are anxious to add to your portfolio, but that could be achieved without touching your first golden goose.Sometimes on BP, the push is to leverage every last spare penny, but that can be a risky game as the markets shift. 

I had one overall criteria and that was could I create additional value and could it pencil. 

Not sure how common or widespread that is, but it has happened.   

I should add it will be a short term rental property. 

JobsOhio projects that, indirectly, approximately 4,500 additional jobs will be created by 2035, further amplifying this effect.Implications for Real Estate DemandThe substantial increase in the workforce will drive demand for both rental and owner-occupied housing.

Additionally, the fact you might be negative cash flow in Texas will give you more flexibility by renting in Portland.  

In terms of maintenance, they are generally safer because you are not responsible for the exterior and common areas and potential leaks, etc.

Additionally, lenders may require a release price (a specific amount to pay down the loan) for each property sold, which can complicate the strategy.It’s worth discussing these details with a trusted lender or mortgage broker to ensure the plan aligns with the loan’s terms.

Electing disregarded entity status avoids additional filings while achieving the same tax outcome.This post does not create a CPA-Client relationship.