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Updated over 9 years ago,
Obtain primary residential financing and then renting out?
I'm currently weighing options before investing in my first property. I spend roughly 70% of my time traveling for work right now, and as such my need for a primary residence isn't quite worth the overhead.
Is it possible to obtain the best financing (residential, with any first time homebuyer incentives) to buy the house for myself, and then rent it out without triggering a due-on-sale clause? I believe I read that lease terms under 3 years, not containing an option to purchase, would not trigger the clause. Are there any caveats to this strategy?