The person/family that might buy 2 3 homes in a lifetime. 

You are lucky if you get 4% net cap in FL, VS 10% ( ALL my personals are 20% ish net ) net caps. 

Personally I think I would look at one of the Universities that have a design program.

They have better rates and we are ok buying in our personal name for a single family.

But it is the tax return that will show the conversion of your property from personal use (schedule A probably) and into an investment property - (schedule E or schedule C of your tax return).

Boost Your Experience Level Another key consideration is your personal experience with real estate investing.

The IRS has ruled that depreciation of "1245 property" (the segregated personal property) may also be deferred in a 1031 as long as there is an equivalent amount of 1245 property in the replacement property. 

Just received a personal message from a guest who just checked in last night.

We bought the place 4 years ago for about $1.3 million with a $650000 new first, 15 year at 4% fixed (btw, no personal guarantee on the loan because 50% LTV/LTC).

Since the HELOC has that rate, I would personally not want to use it now.