I did a HELOC on my primary property to buy this one, which I rent and the cash flow is good.

I was talking with a mortgage broker last week and he was telling me that a co-signer can only be a family member and on a primary residence.

I'm currently in the process of closing my first primary residence deal in NYC, and I would like to ask for a piece of advice to the community.The current tenant of the Seller failed to move out by the closing date and the Seller decided to take a legal vacating process.Background- The current tenant of the Seller failed to move out by the closing date and I heard the tenant is avoiding direct communications with the Seller- Not sure from my end if the tenant is willing to moving out but struggling, or maliciously squatting- I have a vacancy contingency in the contract, thus I can back out at my discretion due to this issue, but currently there is no other properties that I want to move on to due to the market condition- The Seller is trying to take a legal action but it will at least take 3 months or longer, no promise to succeedAdvice to ask- My attorney could not negotiate to ask for a penalty for this delay because the penalty for delay was not included in the contract.

Primary residence has about 100k in equity. 

Annual property tax on it if you are a resident (and its your primary house) is $960.

Make sure you’re comfortable with that risk.If your primary goal is tax benefits, transferring the property may not be necessary.

I dont do them often but did one up in Washington state and it was 50% LTV on the primary and then cross collateral on a really cool Ranch in North Central Washington that was free and clear so I got a first on that as a cross.. and I would have loved to own that property :)  @Beth Johnson does a lot of seconds from what I see and like me she knows how to juice the equity portion of the deal..

@Jose Ignacio PrietoIf buying as a primary, you need to be able to occupy a unit within 60 days of closing.

I bought my first house 1 year ago as my primary residence.

I have my primary person and then a backup.