There is risk with this approach that the tenant can have short residence or leave in Nov to January.  

I am going to be moving in the spring and will begin renting out my current place of residence at that time.

If we are purchasing properties when the market is a highly appreciated seller’s market, we need to realize we may be in DUMB DEBT and should be prepared for the risk of suffering the consequences if and when the economy turns for the worst and goes into a recession as this will likely cause values to drop.

The loan does need to be secured by the property being improved if we are talking about a personal residence and personal itemized deductions on Schedule A.

I am curious as to if anyone is aware of any first time home buyers programs for buying the first Primary Residence.

Focus on saving and researching financing while networking with real estate professionals to prepare for your first investment.Dont forget to add tax savings to your ROI for better decision making.This post does not create a CPA-Client relationship.

To improve your business going forward, it is important that you recognize how you created the problem.There are a portion of residents that if you give them an inch, they will take mile. 

Investment Info:Single-family residence other investment.

It has to be your primary residence to be able to use your VA loan.

If you feel ambitious, you could try a BRRR strategy adding additional equity to the subject home and then taking equity out of it to pay off either the HELOC or if you decided to the refinance the primary residence.