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Updated almost 6 years ago on .
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Ramifications of a cash out refi on our AZ rental
We've owned a rental SFR in AZ for 14 years. We are looking to refi our rental with a brand new 1st for the purpose of using the equity. I'm curious about limitations. Does anyone know of any limitations set on the proceeds from the refi? Can I purchase a 2nd home, or do I need to make it a rental property?
Thank you,
Jim