I own a home in CO which was my primary residence and now it’s a rental.

@Jay FayzIt's possible to use an FHA loan with a 5% down payment, but keep in mind that the loan is intended for primary residences, and you'll need to live in the property for at least a year.

I am looking into purchasing a second (vacation) home and would love to hear your thought on the pros and cons of going a conventional 30-year second mortgage vs. using a HELOC or Home Equity Loan on my Primary Residence to purchase the second home outright. 

However, the depreciation claimed while the property was a rental must be accounted for upon the future sale of the personal residence, which could increase your capital gains tax liability.The adjusted basis of the property (original cost minus depreciation) will be used to calculate gains or losses at the time of sale.

Unfortunately they refuse to not do it on the outdoor balcony despite other residents' verbal requests.

First flip with good margins and intending to do more in the realm of real estate?

If you will be leasing be sure to get a good maintenance clause in your lease.

It was my primary residence for two years before I turned it into an investment property.

If the home was still your primary residence throughout 2024 and not actively listed for rent, it would typically remain classified as a personal residence until the lease began.

Investment Info:Single-family residence fix & flip investment.