Great news for the local investors, bad news for the California absent landlords (our software catches/filters by property location and borrower primary residence, there might for example be a lender in California that lends nationwide but requires the borrower to live in their 3-county footprint, and every other configuration of that you can imagine).

I should hopefully have an independent appraisal  within the next few days.HELOC will be from primary residence. 

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

We'll have an expert on hand who operates nationwide and specializes in new STR setup & decorating.  

My current residence in Oceanside CA is a half acre with plenty of space.

The intent of FHA was to promote primary residence home ownership not investing portfolio building so they put this rule into place.100 Mile rule basically says that you cannot use rental income offset from a lease agreement on your current house to help you qualify for the next property when using FHA loan to qualify.How do you get around this?

is this loan secured by your primary residence as a HELOC  or are you borrowing against your stock/bond portfolio ?

Best to change the locks anyway to eliminate any risk or perception of risk with the prior owners (or prior residents).

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

We might move back to the East Coast in 4-5 years, so I’m looking for investments that can work well as a primary residence now and a rental property later.Income: Both my girlfriend and I have solid tech salaries (150k+ each).Current Portfolio: I don’t currently own any rental properties.Goal & Long Term Plan: I don’t love my current job so like many of you, I would like to create enough passive income through rental properties to have financial freedom and be able to work business ideas or side projects.