Hey @Ryan Jacques     If your intention is to refinance after year 3 when your prepayment penalty is up, then I would go with the lower rate.

@Gordon Middleton  Remember, if the intent is merely to create separation for liability purposes, you are creating the clearest alter ego case imaginable.

I had the ability to invest anywhere in the Metro Detroit area I desired.I intentionally chose Detroit because I was certain it would outstrip the suburbs in terms of appreciation, and it blows aways the suburbs when it comes to cash flow.I've been dead right on that for the last 5 years, and I don't see the trend changing any time soon.

My intent is to convert my primary into a long term rental.

Feel free to post or message me, and we can start with getting the Intention Journal by Brandon Turner first and then figure out the details later.

Did you get an owner occupied loan on this property with the intent of renting it out?

There are many on here who’ve been in real estate for 25+ years and have seen 7 or 8 out of every 10 people fail, miserably in real estate.I had someone send me a message the other day telling me I’m too mean.My intention is not to be mean, my intention is to be brutally honest and to tell people what others are afraid to tell them because it is not in their best interest because they’re trying to sell them a product.Chris, if you are too mean, what in the world am I?

In every business there will always be honest people - and there will always be fraudsters, and those who are balancing in between.However, I agree that open honesty of actions, intent, and past record eliminates 99% of ethical problems.  

I buy with the intent to hold indefinitely.

I find families with children or groups of adults staying at my STR do more damage whether intentionally or accidentally than my longer stay midterm guests.