And lived in it for at least 2 out of the 5 years prior to selling. 

We live up in Shasta lake.

From my experience working with over 400 investors, consider alternative strategies like rent-by-the-room, buying an SFH with an ADU, or renting where you live while investing elsewhere.

However, the units I see myself living in all barely break even on cashflow.

My name is David Burton and I live in TN!

While I currently live outside Portland, OR, I plan to begin investing in Tennessee.

If it’s a must-have, it might be worth the extra time in your schedule.

You live in a $1,000,000 house and are able to secure a HELOC for $150,000. 

Requiring occupant to have renters insurance is another possibility for extra protection.

There is no additional "risk" on the note like a demand clause etc, but you have  extra expense in upfront one time costs and the pre-payment penalty that most programs are sold with if rates do drop as expected in the future.