Difference between "lifestyle purchase" an "investment purchase"?

[Enrique Kratz]

Hey guys,

I was having a conversation with a friend and I wonder what the difference between these two is. Also whenever they can be reconciled if you can buy a property to live in there and then rent it? 

[Kathy Henley]

@Enrique Kratz It has to do with the intention of the money. I put my money to work for me (investments) whereas my sister works to live comfortably. My children lived in a small 2bedroom house with us, their parents. We didn't move to a bigger house. We drove used cars. Our disposable income went into buying rental properties. My sister's houses grew with the size of her family. The one with the pool was a great place for our big family gatherings. She hasn't spoken of retirement.

We eventually sold our primary and bought two more investment properties. Multi-family properties.

Yes they can be combined. Those last two properties were near a university. They rent easily. I moved into one of the properties when I left my W-2 job and divorced. It needed work, which I undertook. I enjoyed the hip neighborhood for a time. When ready, I moved to another vacant unit across town. It wasn't hip, yet. But it will be.