This is a great strategy and our former primaries have become the best performing rentals in our portfolio.

The house upstate would be my primary residence and i do intend to live there. 

I plan to someday use my Primary job as leverage to work things out with investors while working my 9-5. 

One of my friends recently asked me for advice, and I want to make sure there's not something I'm missing or a better option for him. 
He and his wife are renting a property that his parents own. They are paying $1,1...

But then wouldn’t I be losing all the gained equity in our primary home?

Sell your primary and use that money to provide your near term needs while your rental pays your mortgage and then some.

Thank you for that explanation - it was very helpful!

Would that be true if we made the new property in FL our primary? 

Then start the painful process of trying to notifying, move/store and auction off the abandoned property.I've thoroughly researched the SB1079 laws and qualify as a prospective owner/occupant since we honestly plan to use the home as our primary residence.I guess my primary question is, is there anything I seem to be missing and need to look into?

We do a lot of fix and flip, new construction, DSCR, Development, Commercial and even primary home financing all over Texas.