I own a house that I am living in with a VA loan and want to buy a different home and move into that as my primary residence and rent out my first home.

This means that you will probably need to pay registration and filing fees in at least 2 states if you don’t buy CA property as a CA resident.Be sure to tell your accountant that you may now need to file non-resident income tax returns in each state where you own property as well.

We are debating between selling our first primary residence or keeping it as a rental.

Love the idea of helping out a first time buyer, may run into trouble if she's not the primary resident, check w/ lender but I don't think that'll fly w/o more of a down payment.

You might also want to double-check if having a local property manager satisfies the city’s requirements or if the operator still needs to meet the residency rule.Good luck with your Airbnb arbitrage—Cincinnati can be a great market! 

Some of the most important criteria are these:1) Both real properties must be investment properties, and not your personal residence.

Investment Info:Single-family residence buy & hold investment.

Heres the scenario:Married - Husband owns 2 properties (1 long term and 1 short term) and wife owns 2 properties (1 long term and primary residence)  in each of their own names.Husband has LLC with zero properties.

Additionally I don’t want to dip into my personal primary residence rainy day fund.

He found a company insure my primary resident in CA and helped with policies on my properties out of state as well.