We’re planning to rent out our fully furnished 3-bedroom, 2-bathroom home in Phoenix-Metro area from March 1st to August 31st in the future.

If you plan to build your own primwry you absolutely want it to be your primary first not investment land first.

I’d love to hear more about your goals and how you’re planning to use your license to grow.Wishing you all the best on this journey—feel free to reach out if you ever want to connect or chat strategy! 

Hey I have been looking at similar loan products though I plan to really dive in when my work slows down in beg of March. 

Unless you revise your plan and ensure that your personal use is under 10% of the rental use.

.: I just hired an architect to design and plans submit for ADU in my 8 multi unit to use the tuck under parking.Some people say do not try to be the general contractor as it will take way more time, costly mistakes and will be nearly impossible to manage with current work. best to hire a company that will do it all and cost about $250 per square foot.

Remember this is a marathon......That said are you planning to flip, hold(short or long term?)

However, some investors don't mind this strategy if they prefer not to put a lot of liquid in up front and plan to refi out within a few years of closing (which seems to be a great option with the talks of the FED reducing interest rates this year).It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.

I've not yet invested in my first property, but I plan to purchase my first one by the end of 2023.

My plan is to buy the house subject to their existing mortgage, renovate the property, refinance it and pay off their remaining loan balance using the money from the cash out refinance.