You will always have to be an asset manager of your property manager as your property manager is not a mind reader for your investment strategy decisions. 

How is it a tax strategy though?

I’d like to buy the place, renovate it, and then live in it for a few years as my primary while renting out the 2/1, and then ultimately selling or renting out the main house too. wondering what the best purchase strategy would be considering I don’t have the full purchase price in cash on hand?

With any investment an investor should analyse DOWN STROKE  versus UP STROKE risk.

Compare these with potential financing alternatives, like a DSCR loan or other commercial products.Exit Strategy: What’s your long-term plan—hold for cash flow, refinance, or sell?

Being a subject matter expert and having a clear strategy is far more important than picking a market.

What types of strategies are you interested in?

Highlights:* no prepay on 12 mo bridge* 6 months guaranteed interest on a 24 month bridgeThese are interest only loans and the DSCR calculation isn’t a factor in the lending decision.Compare the cost of your lower interest rate DSCR loan, including PPP versus what the bridge would cost at a higher interest rate and no or minimal PPP.PPP=pre payment penalty :)

However, for the last 5 years, we almost never went into an acquisition/disposition with that strategy as the goal.

I keep our rentals in great condition so this strategy  make is easy for me.