I give it ten or so years before we start seeing this play out. 

It's hard to harvest equity on these plays, unless you commit, long-term, towards very light leverage, as the only practical ways to benefit from the equity in your portfolio, if you plan to never sell it, only exchange it, for a lifetime, are to spend the cash flow, or cash out refi.

I’d recommend building relationships with agents and accountants familiar with these markets too—state-specific tax strategies could make a big difference in your bottom line.I’m excited to see how this plays out for you!

@Levi Perl There are definitely a lot of factors at play here, especially considering the time of year.

And a single or double play is awesome.

You don't want to play a plumber so that your guests can have water?

If it is a working STR, that really plays no part in the sale of the property.

Not sure if you’re closer to Randolph, Lackland or Ft Sam Houston but this also plays into account on what rental amount you should look to achieve.

I just hope that there's a way to enforce compliance more strictly.As is, the playing field is uneven.

@Tom HallAt 7% if you can I would pay it down as investing it net after tax gains may not get you the 7% you are paying - so it’s less riskDownside is you lose liquidity of that money as it’s tied in your propertyIf rates come down in future you can refinance and even take some of the cash out.Regarding your question are rates coming down, a lot of factors come into play but right now it does not appear there will be significant changes to rates over next 3-6 months.