Quote from @Richa Wardhan: It's inside the city zoned RG-1, we would like it to be a vacation home and STR Hey, RichaIs the home already a vacation home and STR or is it a primary residence looking to convert over after potential ADU built?

Refi the house so they can continue to live in it, they will get the best loans on their primary residence.

Hello Rebecca, yes as a new home owner I can see it was a challenge to first make a deal as a primary residence.

The Taxable Value is uncapped and equated to the SEV upon a sale or other transfer of property ownership, with limited exceptions.Homestead versus Non-Homestead Millage RatesCounties & cities in Michigan are allowed to set their own millage rates, with one restriction – a primary residence (Homestead) is exempt from up to 18 mills of school taxes on their Homestead property.

For a $600,000 single-family home in Houston with 10% down as a primary residence, our rates only differ by 0.125% between a 740-759 credit score (6.25%) and a 780+ credit score (6.125%).

@Sharad ReddyI used to live in Davis and the area has had strong appreciation and consistent demand with the university and primary schools. 

Hi JoseIt sounds like you're trying to take advantage of favorable terms, but lenders often differentiate between primary residences, second homes, and investment properties.

You could tap the $400k of equity in your primary, but that's a slippery slope with the little financial discipline you appear to have and could quickly lead to bankruptcy.

In some cases, after running the numbers, I’ve even faced potential negative returns, causing me to miss out on promising deals here in South Florida.That brings me to my question: I currently own two homes—one is my primary residence, and the other is a rental property.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $675,000

Cash invested: $250,000

Country estate with 2 houses. My wife and I moved to main house and rent th...