But I'd like to see Lynnette's projects to support your claim "the portfolio was a 30% increase in cost to the consumers" since in TN, NC, VA, NC PPAs are priced at avoided costs. 

The reason I say this is that with a 5+ unit a lender will evaluate based on NOI and a cap rate, so adding a 5th unit COULD (or could not) substantially increase the value of the building and make it worthwhile to refinance and pay off the existing loan (that is tied to the "old" quad) anyway.

The increased cash flow would make such a substantial difference in your daily life that not paying it off would be foolish.Outside of that, I can't see many reasons I would take a 15% tax hit to save 4% on a mortgage, which is really only effectively about 3-3.5% depending on your tax bracket.

Also, gifting real property generally would require an appraisal as well, which could increase costs, too.  

However, the depreciation claimed while the property was a rental must be accounted for upon the future sale of the personal residence, which could increase your capital gains tax liability.The adjusted basis of the property (original cost minus depreciation) will be used to calculate gains or losses at the time of sale.

For property management, I have concerns on them actually adding value for what I am paying them for.

Right now, my focus is on leveraging my degree and skills to land a higher-paying job, increase my annual income, and ultimately grow my net worth.Real estate has always been something I’ve been interested in, and my long-term goal is to start investing in both real estate and retirement to build financial security.

Perhaps valid concerns.

I have access to a $500,000 HELOC but live in Fort Lauderdale, where property prices are high, and cash flow opportunities seem tough to find.I’m considering different strategies like:BRRRR or flips (but concerned about high acquisition costs)Out-of-state investing (but hesitant about managing from afar)House hacking (but not sure if it makes sense given my situation)For those who’ve started in high-cost markets, what strategies worked for you?

Hi @Robert B Azimi,A home that has been registered through The Mills Act, can be rented out the same as any other property, and it can even increase rental revenue as there are people who really like the thought of living in a historic house.