Lenders stopped allowing rent by the room due to modifications done to the property resulting in functional obsolescence and significant cost to cure in the event there was a default and they needed to foreclose on the home and resell it, given that the main buyer pool for single-family homes are primary occupants. 

Post insolvency, the framework allows an assessment to all private insurers operating in the state to cover the difference which will subsequently pass the costs along to policy holders.

Like you a purchased my primary residence in 2017 as an estate sale and landed an amazing deal which still holds a large amount of equity.

Your primary insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

It is much easier to find HELOCS for your primary residence, but some lenders will do a HELOC on a investment property as well 

@Landon Sheveland People do fix and flips while living into the property to classify the property as primary residence and not pay any capital gain taxes. if that is your intention, don't use LLC to establish this as your LLC.If your goal is different compared to what I said above, you can use LLC.

So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

Husband and I have 3 rental properties between us that were we lived in separately at different points before getting married.

When I return to the country after my Au Pair contract ends, I hope to live in the property as my primary residence and house-hack as well.I understand that investing remotely makes things more challenging, but I am also ready to be uncomfortable and challenge myself in this journey as I know it is 100% possible.

I wasted too much time trying to piece it all together and when you're in different states it's all the more challenging to make sure everything is legit.