Your primary insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

Also, if you were in our position, what questions should we be asking the lenders to make sure it is a good fit?

This could turn a potential loss into positive cash flow while protecting your property’s value.

I think I misunderstand DTI for rental incomes.My DTI goes up with a cashflow positive rental ($2000 expense and $3,500 income).

I bought my first two rental houses with a combination of using a HELOC on my primary and using my retirement $.

My plan is to sell my primary home in New York and purchase a house to live in South Carolina.

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

.: Is it legal, per the IRS, to rent my primary home back to myself? 

VA loans are the only loans that allow this, and there is no rate penalty for it no longer being your primary home.With that in mind, you could do a cash out refinance today at a higher rate than current market rates which will create profit on the loan, we can take that profit to pay for your closing costs.

You can find positive cash flow and the 1% rule here!