I'm applying for a HELOC on my rehabbed house in Detroit (primary).

@Pat Arneson After working with my primary contractor for about 23 years (give or take) he now accompanies me on all my walk throughs.

I intend to relocate to the Rapid City, SD region in April/May for work, and I plan to acquire a primary residence that could eventually be transformed into an investment property.

This would make it into two, two bedroom units with the intent of making them long term rentals.I'm guilty of having a lot of projects going at once so my focus right now is bringing the cottage to a point to refinance out of the private money and either make it our primary residence for a year for the financing perks or to go straight into a short term rental.With the four bedroom house I'm trying to decide if it's worth splitting into two units or if I should keep it a four bedroom rental.The cottage I'm also tempted to do mid term with to lower the turnover and maintenance but open to suggestions.The third property I'll probably just let the current renters pay the mortgage for the time being if I'm able to acquire it anytime soon.

Remember not to discount your primary home as an investment.

My primary motivation is to ensure my dad doesn’t have to worry about financial stress after retirement.

I bought under a secondary mortgage (don’t have a primary mortgage but 3 hours from where I live) and I put 10% down at 6.25%.

You have to think about a HELOC for what it is also, a second loan on your primary residence.

Your lender is correct—FHA loans can’t be used under an LLC since they’re for individuals purchasing primary residences.

So, if interest rates are a buyer’s primary roadblock, then I recommend negotiating a rate buydown at a seller’s expense or looking at new construction, where builders are offering rate reductions and other substantial incentives.What if I’m a seller?