Turning Primary Residence into a rental.

[Adam Bosley]

Hi BP Family, I bought a move in ready townhouse last September and have been doing smaller renovations since then. Backsplash in kitchen, removing popcorn ceilings, renovating bathrooms etc. My next step is to buy another property but it will take another year or two to save up 20-25% to put down on an investment property. However, I was thinking about turning my primary residence into a rental after I have lived there long enough to meet the requirements of my lender. I think it will be easier to acquire another conventional mortgage rather than financing an investment deal. So I have 1 specific and 1 general question. 1. Where in my loan documentation does it say how long I have to declare this my primary residence before I can make it a rental? (Don't want to commit mortgage fraud.) 2. Has anyone else had any success early in their real estate careers by acquiring more properties this way? Best, Adam