I like the idea of STR as it seems like it can generate significantly more income than LTR and would allow me to block out dates if I have friends or family come visit.

@Fakaradin Floyd Your rental arbitrage idea is interesting.

Great idea.

Warranties often have limitations, like they might not cover pre-existing issues, and there could be delays if they require you to use their contractors.I'm not sure if you've purchased a warranty already, but before purchasing a warranty, it’s a good idea to carefully read the fine print to see what’s covered and if there are any exclusions.

I would just start out by meeting with bankers, telling them your goals and mentioning some of the ideas you had(FHA vs conventional) and ask for their advice.

It’s great to have a community to bounce ideas off of.

If you have any ideas, you can ping me.

Ok yeah we are thinking of getting an investment property loan so we can stay in our current home.If we did the FHA route we are considering on living in the new property for 1 year and then moving back into our old one after the year is up.We are curious if we would get a more favorable rate if we borrowed from our home equity to buy the investment property.Do you have any idea if many investors borrow from their home equity to get started?  

I love the idea of jumping in with a duplex.

Nonetheless, If you’re short on time, hiring a local attorney who focuses on evictions is definitely a good idea, as the process can be quite tedious.