As for the equity line, I don't think it's necessarily a bad idea to use it, as long as you're not leveraging too much.

well actually I was thinking more along the lines of buying a high rise.

Since the website is free, that takes away that disadvantage, so bottom line, accelerated depreciation is available to those that want to take advantage of it.The next issue is depreciation recapture.

Also you will lose your "annual increase in assessment" cap when it ceases to be your homestead.Your last line says it all: My other concern is that keeping this as a rental forces me to buy the new house with an 80/20.

The 2 fam, has 1 long term tennant and 1 vacancy, due to a furnace prob...Its in a college town, I already have a tennant lined up...thanks for the help

I know I am first in line, but do I only recieve money?

I had no job lined up, I wasn't going to graduate.

You need to have some possible investors lined up to buy it.

If it is after the sale forget it, wait in line for most lenders, you have hit the "clerk wall".

Only for plumbing or the like, and I call a pro with whom I have established a relationship.I don't think it will prove too hard if you establish relationships with people there, and open up lines of communication.