I haven’t done my first deal yet, but through hiring a local contractor to build my personal residence I had this idea that I don’t hear people talking about.

What would you do with your current residence if you planned on living in the new one to get an FHA loan?

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

(C) As used in this Lease, “Premises” means that certain private dwelling residence situated in ________________________________________ County, Minnesota and having an address of ____________________________________________________________________________________.

Land Use Codes and Building FeasibilityExample 1: Property Land Use CodesActivity Code: 4000 (Social, institutional, or infrastructure-related)Function Code: 1000 (Residence or accommodation)Ownership Code: 4200 (State government)Example: Regrid Property Example 1Example 2: Zoning DetailsZoning Code: T3Zoning Description: Sub Urban ZoneZoning Type: ResidentialZoning Subtype: Single FamilyOwnership Code: 1500 (Businesses and commercial entities)Example: Regrid Property Example 2Based on these land use and zoning codes, can I build a house on either of these parcels?

(Starbucks / yoga studio / craft brewery /boutique cookie,coffe or ice cream shop  are the easiest targets)-Activation of dormant retail sites-Increased foot traffic For B to AAbove also apply-Home valuations (are homes in the increasing at rates above nearby or similar neighborhoods)-Is it walkable or are projects in place to make it highly walkable for residents-Is it near highly desirable activity centers -is it unique (for example - Can it get historic designation)

If you feel ambitious, you could try a BRRR strategy adding additional equity to the subject home and then taking equity out of it to pay off either the HELOC or if you decided to the refinance the primary residence. 

However, consider STR seasonality, local regulations, and management demands, and ensure your equity loan and new primary residence costs fit comfortably within your budget.

I personally use the mass text capabilities through my Resident RE CRM.However I have a few friends who wholesale and invest and use Mobile Monkey to mass text and from what they say the price is pretty reasonable.

@Bobby Short Depending on the equity you have on your primary residence you might be able to find a lender to finance the property in CR with your primary residence as collateral.