Would love to hear your thoughts on how these strategies might apply to properties in those areas!

I understand there's a one-year waiting period before converting a primary residence into a rental property, but does this same one-year rule apply when converting a rental property into a primary residence.I have another question.

Does the exemption apply to multi-unit properties since I will be living in one of the units?

@Elias AzoRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

Want to pull 60000 and use 40000,including paying off lenders, for reno and apply remainder towards next property.

@Harish PasupuletiRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

I spoke with the planner on duty, and the trick is to first apply for a Zero Lot Line (ZLL) configuration.

@Allen Zhu @Bradley BuxtonRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

I understand that you have to apply for state permits for septics, but wondering how many you can install/build on a single property. 

I'm looking to apply these skills to lending/mortgage banking, investment/property management, acquisitions or development.