One thing I would add is to emphasize a review of the loan docs and covenants with your attorney and the financials that were submitted when you applied for and received the loan.

As suggested many times and it cannot be emphasized enough, consult with your attorney and structure it appropriately for the purpose of how you will be using it. 

If you have marginal cash flow, then to me that emphasizes further the need for stock reserves set aside and ready to tap. 

I have lived around Dallas for about 58 years and I spent about 5 in Denton going to college getting a business degree with honors in Business that emphasized real estate.Good luck to both of you!

I want to emphasize the "living in it" portion of things.

In most cases, I'd emphasize the NPV of $1 today and say keep the loan to a min. 

The covid outbreak has only emphasized this. 

"Cash" buyers are over-advertised or emphasized are misleading because at closing the existing owner gets paid in full no matter what unless they are owner financing. 

@Kevin Zou You've got great answers on your original question above, but I wanted to doubly emphasize a very important side point that has been made:Depreciation is not optional.

.), but I do emphasize real estate above those.