And, as I understand it, if the property is yours and is "free & clear" there are no restrictions.

But do your homework; the City of Orlando (most of what people think of as Orlando isn't inside city limits) is putting new restrictions on short-term rentals starting next month I believe.

Way too many restrictions on owning / leasing and lots of added fees. 

Breed restrictions on pets?

However, different lenders may have tighter restrictions (overlays) and different loan processing fees.  

@Sezuo Daudu When you use DPA program for your primary residence there are some restrictions to follow for ownership.

But China and Malaysia for example have restrictions on sending money overseas.

You probably won't want to spend money on postage to send to the family that bought their house in the last 5 years. 2 segments that seem to be working are Absentee Owners with Equity and Seniors with Long-time ownership.Depending on which county  in UT, Absentee Owners may or may not be available due to restrictions in county reporting. 

There are some HOA's out there that will only allow a certain percentage of units to be rented out and may have some other restrictions in the CC&R's.As for your question, the "best" way of doing something in real estate is typically subjective, but having a HELOC payment, in addition to the mortgage, taxes, insurance, and HOA dues, just increases the chances of having a less profitable property or one that may not cash flow at all.

Owner-occupancy and deed restriction will be required, subject to State law regulations.