@Peter R and @ Richard Fisher,My plan is to turn it into a vacation rental.

I did it with H&R block for last year and didn't see what the saved number even was.My last mortgage was a real pain to get.

I mostly agree with @Steve R., but would strongly advocate champagne over wine.However if you want to hedge against some amazing opportunity crossing your desk that you need to be ready for, go open a HELOC for $200k or so (really whatever you can get) with a balance of $0.00.

I am a new agent at Keller Williams. I have done small investing and am interested in learning more. 

I hear some conflicting things about only buying in areas with a good school systems, or only areas with increasing property values, or areas where CRA is happening. 

This is not a get rich quick job but the sooner we can achieve our goal and establish systems the sooner we can move our family overseas!

We are moving for the obvious reasons: cost of living, slower pace of life and better school systems for our daughters.

In a *typical* building they cover wide range of common expenses for example; management, insurance, water, sewer, garbage, fire system, elevator, janitorial, landscaping, and the list goes on.

I am getting systems in place for wholesaling and buy and hold in the US, as well as looking into doing the same here.  

Ideally, you scale up and create a business and systems that gradually require less and less of your direct involvement.