For AP purposes, set up an LLC or Series LLC if looking to keep investing.

@Ruben Pereira  Keep in mind even if you move the loan to an LLC, for tax purposes, it will still flow through to your personal taxes. 

I don't know all the intricacies of your deal, but we've done some intra-family deals with the advice and help of an attorney.For tax purposes we got an independent appraisal of the property.

I live quite modestly relative to my income and I'm young enough that I'm fine jumping into a job again if I need to, so I've got a pretty high risk tolerance (so long as it has comparable reward potential, of course).I've been planning on just making money off the investment income, but I've always been rather interested in real estate investing and it occurred to me recently that I will probably have an easier time getting a mortgage now with my income than I will in a couple months when I don't have an active income.

@Sam Josh You can cash out for any purpose but did you compare HELOC on PR and cash out on rental property interest rate.

I’ve not had a chance to research the percentage of households that were renting at the end of the recession as compared to before to see if there might be a potential benefit to having rental property in a period of time when people are not buying homes.Good luck with the first property!!

If you still are still undecided after considering those factors, I would compare both markets.

I wrote the above for informational purposes.

I wrote the above for informational purposes.

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