Drawbacks are you cannot turn them into rentals for a year so they have to start as your primary residence.

The draw back to these loans is that they are more paperwork heavy than the other "portfolio" types of loans....but if you have ever received a loan on your primary home, it's likely that you will go through the same type of paperwork here with conventional lending.

My husband and I recently purchased an outdated, too small, primary residence and we're needing to rehab.

However my first investment will be my primary residence and my financial source is the VA loan and my regular pay from trucking.

Did you recently purchase your primary residence?

Is it your primary residence? 

We have an enormous amount of equity ($600k+) in our primary home, and we currently have a 15yr  mortgage with an interest rate of 1.99%. 

I am looking to buy an apartment in Jersey City as my primary residence (thinking of living in it and renting out another room via Airbnb or to a long-term renter).

I was wondering if anyone knew if I could purchase a home as a primary residence with the intent to flip it?

Sadly i am having to move cities due to another job opportunity but didn't want to just sell or 1031 as i feel as though the market can go up. the rule for exclusion is 2 years of 5 but if i only lived there 1 year and rented it out the second year before selling (and rented another property in the new city) to maintain this one as my primary.