Think of it as diversification, retirement $, emergency funds, etc.

I'd likely build up an emergency fund for any property expenses, and then start putting all profits into principal payments on the loan.

@Beatriz RodriguesHello,we have an STR in BIG bEAR cityAlthough we manage but our cleaning lady is the emergency contact number.Hope this helps

Stay informed about trends in your local market and potential emerging markets.

EMERGENCY CONTACT: Our preferred general communication method is through the travel applications.

I have an emergency fund with three months of expenses is that what you mean?

That is what we typically do, get the HELOC and in emergency or something comes up use the funds otherwise let it sit with zero balance or use it for small purchases so it stays open

Books: "Multi-family Millions" and "Emerging Real Estate Markets" by David Lindahl and "ABC's of Real Estate Investing" and "Advanced ABCs of Real Estate Investing" Ken McElroyAlso, subscribe to podcasts, including BP and listen to those. 

Cash-out refinance will cost you some money as you will be paying some fees to your lender and title company.Do the maths and choose wisely.If you don't have an emergency need for cash, I will suggest you wait until you sell it and buy near where you live (Houston, TX).Goodluck and reach out if you have any questions.

Thanks to all For those that are using property managers there, have any of you had to deal with evictions, major repairs, or emergency repairs?