I currently live in it as my primary residence but had plans to eventually rent it out and then cash out refi once I reach 20% equity in the property.

7% is probably good for projections, but I would ask whatever bank you're planning to go with where they're at and factor in an extra 0.25% to be safe.

The bank will put a hold on them, so you can't just draw them out, so don't plan to need them for a while.This will cost you an appraisal on both properties to be performed by that lender. 

, clear laminated instructions inside the unit, etc.Also very important to consider scale--if you are planning to have several STR's in the same area, then it's wise for you to invest time now to build your team there and manage the place without a co-host.

If you plan to invest in multiple states or require advanced asset protection, consult a CPA or attorney to explore options like a holding company structure.

Yes, I've reached out to our attorney and my stated plan is best option. 

How do you plan on finding your deals?

If you plan to sell soon, depreciation recapture could reduce upfront benefits.

I typically do pre-planning with clients coming on board to discuss their specific situation and formulate a plan.The best assets are receiving multiple offers these days and go quick.

I am now working as an engineer in the Twin Cities, but have plans of moving to Austin, TX with my wife to house-hack and work in the more plentiful tech market over there.