how long have you owned it and was it ever your primary residence? 

I am an investor/agent and own 5 and it's my primary investment strategy.

The interest rate is also priced like it's a primary home purchase. 

However, it’s important to understand the loan’s key requirements:Owner-Occupancy: The borrower must live in one of the units as their primary residence for at least 12 months.Single Borrower: FHA loans are issued to individuals, not partnerships or entities, which means the loan would need to be in your name alone.Given your scenario, only you can qualify for the 203(k) loan since your partner does not intend to occupy the property.2.

My primary goal is cashflow so looking for an asset that works and is also in a growing area.

As of my last update in April 2023, the definition of an accredited investor includes, but is not limited to, the following:Income: Individuals who have had an income of more than $200,000 (or $300,000 together with a spouse) for the past two years and expect the same for the current year.Net Worth: Individuals with a net worth exceeding $1 million, either alone or together with a spouse, excluding the value of the person's primary residence.Insiders: Directors, executive officers, and general partners of the company selling the securities.Professional Experience: Certain professional certifications, designations, or credentials or other credentials issued by an accredited educational institution may allow an individual to be considered accredited.Knowledgeable Employees: In the case of private funds, "knowledgeable employees" of the fund are also considered accredited investors.Institutions: Banks, partnerships, corporations, nonprofits, and trusts with assets exceeding $5 million.By imposing these criteria, Regulation D is meant to ensure that all participants in such an offering are capable of fending for themselves or sustaining the risk of loss, thus requiring less regulatory protection.Under Rule 506(c), it is not enough for an investor to simply claim accredited status.

We syndicated 75%, plus costs of the purchase price and financed the balance with a traditional loan.We shopped around for weeks to find the perfect loan with the best rates and terms.

@Nate Jenks no problem, here to help and clarify.When we speak to "cash out" loans in lending the maximum loan amount is usually 80% LTV on a primary home. 

I’m finally wanting to pull the trigger on getting another property, but this time the primary goal of turning the sfr into an Airbnb.

Hey,If "building class designation" is the same as zoning, then this seems like it can definitely be appraised as a two family, with both the legal and actual designation as a two family.Depending where in NYC, that may not help your valuation, as primary residences sometimes sell for more than investment properties, so check that out before challenging the appraisal and definitely before paying for another one.Double check all this with your lender/broker as well.Best of luck!