Are you able to use it easily, only with a HELOC.If you lose your tax deductions, then Uncle Sam is happy to take more of your money each year.Good Investing...

In short, the previous owner made a deal and sold the house while they were still living for monthly cash payments until they died.  

In short, securing an STR permit isn’t easy unless you fulfill all the township’s requirements

This is an investment property.

@Matt Powers  Have you done any training, schooling in real estate investing? 

In fact, he says he transferred the title to himself, to "protect" his "investment".

@Rebecca GonaBigger Pockets is a great place to find a tax accountant that specializes in short-term rentals. 

@Alexandre Pita i would be interested to connect and learn about your current investments and plans for the future - i plan to invest in Portugal this spring and i have others from my investment group that may be interested. 

If you qualify for both (you've lived in the property long enough and it is used for investment when you sell it) then you get to take both.

Quote from @Aldo Valeriani: Hello everyone,I’m relatively new to real estate investing, and this is my second fix-and-flip property.