As I see it, the only ways that real estate pays you well in the first 3-5 years is low to no leverage or a strategy that requires more work (short term rental, mid term rental, rent by the room, etc.).  

"We do not expect much further upside for housing demand near-term.""

The president has zero impact on underwriting guidelines and  zero direct control of interest rates. in fact the fed has no direct control of long term rates that effect mortgage rates.

I"m not sure you could find a better group in terms of knowledge and support. 

It seemed like a long-term play with less price or industry volatility.

You’re asking the right questions, and it’s great to see you thinking strategically.My Take on Your SituationSince you already own a rental and want to expand your portfolio, your main decision points are:1.How to pull equity to fund your next deal2.Whether to transfer your current rental into an LLC3.How to position yourself for long-term growthHere’s how I’d approach it:HELOC vs.

REI is a long-term venture; if you cannot hold this will be a very difficult process.  

Basically, if you did this over the term of your mortgage, you would end up owning the property outright at a simnifically lower percentage.

You will need to continue filing a MO tax return even in loss years.Given the complexity of passive losses and state tax credits, consulting a CPA can help optimize deductions and ensure long-term tax efficiency.This post does not create a CPA-Client relationship.

Being prepared for these hurdles can make all the difference in achieving long-term success.