I used it as a down payment on my first rental property and had no issues on either side.

We're looking to sell our rental property that isn't performing well.

You can't take depreciation deductions on a primary residence.I have a feeling that converting this rental to a primary will also unleash a huge tax bill in the form of depreciation recapture. 

Hi BiggerPockets Forum,      I am looking at purchasing my first rental property.

That leaves you with a good chunk of change to start the business and grow from that point with rental income/passive income coming in each month.If you have any specific questions and want to talk about Pinellas, Citrus or Hillsborough reach out I always enjoy talkng REI.

Open to any advice from the experts on how to increase traffic as the house would be a great investment for a first-time buyer or to add to a rental portfolio! 

I probably going to use them for equity financing on a rental property that is paid for.

We are looking to purchase our next investment property to buy and hold as a rental.

@Mario MoralesI'd look at the rental income and compare it to the cost of each situation to determine the return on cost.

Although the rental increase will be modest, I am considering waiting until April 2025 to send the renewal, which would then start on July 1, 2025.