Investment Info:Single-family residence fix & flip investment.

Another lesson I’ve learned is that buying a single family home as my primary residence to later lease to a tenant is a bad strategy unless I’m purchasing the property at a really low price.

I currently live in a single-family primary residence.

Welcome to BP fellow NYC resident!

Yes, most lenders will require you to live in a primary residence before moving out, refinancing, or converting into a rental.

Additionally, you may just want to ask your tenant to be mindful of the other residents by using some form of air freshener or scented candles etc. you would be surprised what a conversation can do, maybe you'll get a more favorable result.Best Chris

I’m self managing myself but the tax side of it is a little confusing to me but I’m recording everything involved as far as maintenance, traveling, expenses etc. just want to know what some people would do in my situation or what to I can benefit from come tax season  @Angelo LlamasI recommend that you find a real estate accountant to help you understand and prepare your taxes.Bigger Pockets is a great place to find a real estate tax accountant. 

HI Guenevere, You can acquire your a primary residence from up to 1-4 units for as low as 5% with conventional or 3.5% FHA with a few exceptions.

As a former planning commissioner the people AGAINST projects are the loudest so you want to make sure you have a good pulse on what your neighbors and the louder people at public hearings stand so you can be prepared ahead of time. 

Do I have to be a resident in the state im buying in?