Another lesson I’ve learned is that buying a single family home as my primary residence to later lease to a tenant is a bad strategy unless I’m purchasing the property at a really low price.

Yes, most lenders will require you to live in a primary residence before moving out, refinancing, or converting into a rental.

Welcome to BP fellow NYC resident!

I'm actually considering moving from my personal residence in a somewhat distant future so I was planning to test the waters before making the leap.

Look into how your county handles properties of deceased residents who pass without a will or trust.  

Additionally, you may just want to ask your tenant to be mindful of the other residents by using some form of air freshener or scented candles etc. you would be surprised what a conversation can do, maybe you'll get a more favorable result.Best Chris

We've gotten great residents who we met despite their original search on FF being way below market.

HI Guenevere, You can acquire your a primary residence from up to 1-4 units for as low as 5% with conventional or 3.5% FHA with a few exceptions.

Do I have to be a resident in the state im buying in? 

Investment Info:Single-family residence buy & hold investment.