All younger people should be considering trades right now as that industry will be paying more and more over time.

I first want to emphasize to real estate investors, the difference between the tax treatment of rental income derived from an active trade or business compared to investments.

@Eduardo Sandoval Ramirez - Absolutely, you are just trading paper for a profit.

My opinion, a rate a buy down isn't usually worth the trade offs vs keeping the cash in hand.

How did you find someone to oversee the set up and also be your boots on the ground as needed for emergencies once the rental is ready?

You won't be an expert in all of the trades. 

If you aren't close to the property having a solid “what if” emergency person helps.

I would review your PM agreement you signed to see all the terms and conditions you agreed to and how the money flows and if you are required to have an account with them with a min dollar amount for emergency repairs (usually $500-1000).

I got a 2013 Toyota Corolla for $17k, so unfortunately, even if I trade it in I still have about $6-9k in negative equity on the car that I’ll still owe.

Hello, personally, if it was me in your situation, I would not trade the low interest rates you currently have by cashing out the relatively smaller equity you have in your current properties for a much higher interest rate.