If my primary residence has $500k HELOC, could I use it to purchase a 2nd primary residence and rent out the first one?

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

Thank youGerman It is the CA Franchise Tax Board's position that an out of state LLC owning an out of state property run by a California resident would still need to register in California:https://www.ftb.ca.gov/forms/m...

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

The MTR agencies offer furnishings and decoration of the property. 

You can buy a single family home, live in it for a year, then rent it out afterwards, and that would effectively be an investment property after you moved out, but you also got the more beneficial terms of it being a primary residence loan.You could buy a single family home and rent out bedrooms while you are living there, and that would effectively be an investment property, but again, you have the more beneficial terms of a primary residence loan.I wouldn't get caught up so much on if a property you buy is an investment immediately so much as I would focus on what your goals are and how each purchase would be step towards your goals, whether that is house hacking or just buying investment properties you don't live in. 

Are you establishing residency and/or renting the property? 

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

My partners are Cayman Residents and in need of Tax Advise as to how to structure the LLC in a Tax efficient manner.

From my observation/experience, Berryessa and Piedmont Hills areas are more family-oriented, so the demand there is generally for primary residences, renters, or travelers visiting families.