The other markets are in southern states.My buyers are typically the "trades".  

Here’s a breakdown of my numbers:Primary Residence:Estimated Value: $340,000Remaining Mortgage: $187,000HELOC Balance: $76,000 (fully utilized)Remaining Equity: $77,000Rental Property #1:Estimated Value: $110,800Remaining Mortgage: $60,000Equity: $50,800Cash Flow: $375/monthRental Property #2:Estimated Value: $215,000Remaining Mortgage: $115,000Equity: $100,000Cash Flow: $350/monthOther Income:$1,500/monthMy DilemmaI'm considering taking out a Home Equity Loan (HEL) on my primary residence to:Pay off the HELOC (eliminating the variable rate risk).Use the remaining cash for a down payment on another rental property (~$150K purchase price with 20% down).Estimated cash flow: ~$150/month in year one.Alternatively, I could save up for the down payment instead of leveraging more debt.

if there is appreciation, but you wouldn’t sell your current home tax free and buy a neighboring home to rent out, (There by raising your cost basis for additional depreciation and lower capital gains tax.) then it probably doesn’t make a good rental property. . 

Many homes look like rentals in the area.

What are the homes worth?

-With my current role in my career and trajectory, I will be able to make the move out of midland in 1-2 years, so I would love the ability to leave and not worry about my home sitting on the market when we are trying to buy a home in Austin.Those are some of my thoughts and I would love to understand the reasoning for/ against this.

Its a 3bd/1.5 bath row home Either the rehab sucks and the house looks like crap, or, you overpriced it.

Purchase price: $172,000 Cash invested: $43,000 We purchased this rehabbed home and added a privacy fence, removed overhanging trees, finished the countertops, built a firepit, security system, camera's, fixed the sidewalk and turned it into an airbnb.

.: Is it legal, per the IRS, to rent my primary home back to myself? 

Land Basis for Condos – Typically determined using county assessor records or HOA allocation.3.