Bonus if it's near I-5 since if we are driving to get my in-laws / visit them we'd want it to be a short drive so that visiting could happen frequently. 

Depending on what you buy, this could be a huge bonus to reduce tenant turnover. 

Often equity loans can be used to capitalize on deals that will increase wealth and income and they also have the added bonus of being available quickly if necessary.As everyone has stated above, there is no one size fits all answer it all depends on you, your needs, your fears, etc.Good luck,Allen Fletcher 

By the way, I was already on their wait list before I posted this, so, I don't think it I can get you the referral bonus!

I'm considering either splitting a 3 bedroom home or 2 bedroom with den or bonus room.

If you're going to be spending a lot... you might look into doing multiple cards to hit the required spend for the bonus, again ONLY if the "rewards" fit your lifestyle. 

We are trying to get everything done this year so that we can still qualify for the 80% bonus depreciation before it drops down to 60% in 2024.

I view appreciation just like my annual bonus...a bonus.  

I am now an employee with RedFin as a realtor who makes a salary, bonus pay, and benefits.

Then that equity will be there to use if you need it for another project.A refi at these higher rates would be for a long time.Also make sure you advertise the school nearby not for the bonus but to make sure that no one who can't be close to a school accidentally rents your house.