Plus the seller will want to increase the purchase price, so they still get their $100k ($100k / (1 - 6%) = $106,383).You state this will be your primary and a rental - so is this a duplex?

There are some New programs coming for 2025 for primary homes, Vacation homes, and investment properties.

When you look them up make sure the owner isn't a LLC and that there primary address is not the same as the property you where looking at.

Hello,Was going to start construction on a two story 3bd 3.5ba 1500sqft primary home and a 2bd 2.5ba 800sqft ADU.  

FHA loans typically require the property to be a primary residence for at least one year, so he should confirm compliance with his lender.Once rented, he can deduct expenses like mortgage interest, property taxes, maintenance, and depreciation starting from the date it's available for rent.

(May also cut significantly into the current cash flow on it)I know you mentioned not doing a HELOC on my primary, but wouldn't it be advantageous to have the ability to pay off the line of credit instead of be stuck in a payment that is much higher? 

We were able to get into it with a 5% down primary residence loan.

I’m on the hunt for my next primary and would like it to be a project. 

I think we have the option of taking out a heloc  and begin to invest elsewhere.The other idea , that I was thinking is paying off our primary residence which we owe 425k.

If the other two parties want to flip a house maybe they can do just that as partners and then sell you the house which you can buy with a primary home loan with low down payment.