Do I use it to buy another place like this that will likely be cash flow positive with a good return on equity (but likely no appreciation), or do the cautious thing and pay off my student loan debt or the line if credit on this house.

I will for sure be cautious with who I go into business with.

Be cautious of other extended family members looking to tap you for a Loan (G-I-F-T).

No multiple levels of "if x, then y" rate and fee language like I received at Wells.My next stop is PatelCo, Travis, Provident and other credit unions.I haven't walked into the regional banks yet, but it's on my radar.Regarding your HELOC, BRRRR strategy - be cautious with any investments outside the peripheral of the immediate bay area right now.

@Steve Vaughan banking is much different on the other side of the pond.But that all said.. yes interesting background.. on your self dealing financing I am surprised your lenders have not connected the dots.. but then again not always the sharpest tools.. you would have a tax return for those entities they should be able to see they are yours :)@Fredrik Kaarem  this is a very nice forum.. but just like any where in the world there are a lot of scammers that troll BP looking for newer investors and those with money.. so be vary cautious when your approached by those with great ideas and your money.I think you are on the right track keep your investments close to you where you can keep an eye on them..

My wife and I have been doing the Furnish finders, the nurses are very cautious of the areas they are in and if it looks nice often they are willing to pay more.

@Vincent Roache be cautious taking advice from any non-CA investors.

You're right to be cautious but honestly, no matter how much you learn beforehand, you're still going to make mistakes.

Please everyone,  be cautious.

As in anything, be cautious because there is the possibility of people posting bad advice.I have been a BP member for just under a year and it has been priceless.