You will be able to claim the expenses (i.e. depreciation, property tax, utilities, etc.) still every year but the rental loss will be limited if you are not a "real estate professional"

I just wanted something to track expenses and realized it was SO MUCH MORE! 

I reside in Santa Rosa, CA and property prices are way too expensive, as such looking in out-of-state areas. 

If your return on equity is lower than the return on investment you could get by redeploying that equity into other properties or other investment vehicles then it is probably time to sell.

You get someone else to pay all or part of your housing expense for the immediate future. 

While evaluating potential investment properties these past few weeks, I have realized that the average rent in Austin is comparatively lower and due to high interest rates and property tax, the outcome is mostly negative cash flow. 

.- hardscape is expensive.  

If they do not check in in the first 24 hrs and we do not know why I like to cancel their booking (their expense) and get it back on the booking sites as available asap.  

Many builders will offer lower interest rates even for investors.

But even if you only wanted to pay your mortgage off faster and not invest, it works as long as you are disciplined, don't increase your expenses w/o at least a corresponding increase in income and basically use the HELOC as your checking account.