One of my core beliefs is that you can't be great at *everything* and if someone tries to tell you that, they're selling you.

Given equal interest rates, the first position HELOC strategy will put you in a better spot financially than keeping the mortgage. 

It is my belief that going to a lot of trouble for anything less than 1 or $200 is not worth it.

However, since you’re buying into a shared building, it’s equally important to request maintenance records and financial documents from the condo association.

Thomas S. that is so disgustingly brilliant that I am equal parts appalled and in awe!  

As long as the total of whatever you purchase is equal to or greater than the net sale of your old property you'll defer all tax.  

The 1% rule is met when the annual income of an investment property is equal to or greater than 1% of the purchase price.

So it has to be equal or less on length.

Hopefully it was equal to one month of rent.

@Mark Redmann  pretty typical HML rates most guys shoot for 18 to 22% APR's  and hope for some early pays to increase yield.I suspect on the JV they also will do the 20k  deals or whatever split but they probably ( I don't know for sure just surmising) that they will have a pref return that is equal to or a little better than the HML rates....