Today’s New York Times has a great article for those of you interested in owning a vacation or rental property. Use your existing home equity to increase your long-term net worth. Check out Reaping the Tax Benefits From Rental Property. Personally, I’m a big believer in owning your primary residence first but if you’ve accomplished this, buying a rental property is the must-do next step. Diversify your assets with a mix of real estate and stocks. Did you know you can buy real estate in your IRA? Beautiful.