Converting a primary residence into a rental

[Armand P.]

Hello BP,

One of my colleagues is considering converting his primary residence to an investment property. He's lived in the property for 10 years and recently refinanced to take advantage of low rates. His plan is to move closer to work in the Eastbay and does not want to sell the property.

Can a primary residence be converted into a rental property after a refi since it was a conventional and not a investment loan?

Thank you
Armand