Another option we've toyed with is saving to buy our next primary residence in a few years and converting our current home into the long term rental.

Live in the converted garage and rent out the other rooms house that cover nearly all the mortgage.

In reality, the IRS has WON in tax court converting passive LTR to STR!

Can we ask the lender about converting this to a rental?

I'm curious about how they are able to convert your business credit cards into a cash line of credit while avoiding the high balance transfer interest rates.  

Even if the intent is to convert this into a rental upon grandma's passing, you still would like the step-up in basis unless you plan of lifetime of 1031 / 721 exchanges.

Hi,Need some expert inputs if it’s worth the investment needed to convert my current property to mid term/ STR with fully furnished.I have a property right opposite to UT Arlington .

And here's the dirty secret than lenders will not tell you:  the lender who you get the construction loan from DOES NOT have to be the lender you convert with.

LLC #1 (convert to s-corp once turning a 40K/yr profit as recommended by CPA) for a flipping business.LLC#2,3,4+ for Buy/Hold business (opening up new LLC after the previous reaches 1M in equity or property is in a new state)Parent/Holding Company - to own all LLCs or just multiple Buy/Hold LLCs as they are formed?

If I use my FHA loan, after a year of living in the household, can I convert my FHA to my LLC and still reap the benefits of that 3.5% down payment?