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

This means that you will probably need to pay registration and filing fees in at least 2 states if you don’t buy CA property as a CA resident.Be sure to tell your accountant that you may now need to file non-resident income tax returns in each state where you own property as well.

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.

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...

Are you establishing residency and/or renting 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. 

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.

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