They aren't perfect, but as other have pointed out, they are still free (to me).I absolutely agree that this platform wont scale past the units we currently have.

The unit has both a primary and a HELOC on it and then a lien from the HOA. 

Two questions:Would this purchase be considered a "second home" (for tax/mortgage purposes) even though I don't own my primary residence? 

Does anyone know if I take out a HELOC on my primary residence and draw funds to purchase/improve rental property (1) will the interest be deductible? 

Would love to hear others experiences/opinions on working on REI deals with family members.I'm inclined to fund her purchase because it means *much* less money upfront and quicker entry into REI -- the income is an added bonus, but for my first purchase, the learning experience is my primary motive.

I’m not sure i see the benefit to the second option as then i have to pay taxes on this rental income and then i believe it does not look like my primary residence anymore.

So if you use Cozy.co or a similar platform please let me know how you actually proceed with applicants that you do showings for. 

I then refinanced my primary mortgage (in NY) with a cash out, and paid off the HELOC last month.

The main problem is PenFed allows applicants to own only three total properties (including primary) to qualify. 

But for non-turnkey investors, I would say it's actually much easier/less work to invest in crowdfunding/syndications.2) lack of full cycle experience: some platforms originate their own deals and are the managers of their own funds.