Thanks,Ani I recommend putting in a security screen door.

I would use the HELOC for a down payment on the prospective investment property and then try to secure a conventional loan(right??).

Given your situation, we can look into options for securing a loan for the land purchase.

My question is, should I pay-off my primary residence mortgage to 1)Get peace of mind and some sort of security 2)Opportunity to borrow from my equity if needed 3) Extra cashflow to save and invest in another rental property in the future OR should I keep my primary residence mortgage (due to the low interest rate) and purchase another rental property instead?

Carry interest of any debt secured by property.I don't believe "necessary" is a word in the statue.  

I'm fine with combing the market for deals, just trying to find a way to legally secure financing without a due on sale clause raining on my parade.

The journey's been exciting on my end, especially helping investors secure the financing they need.

I.e. what if one doesn't get along with the other-Any benefits to trying to officially convert it to a duplex with the city if it is zoned to allow MF?

However, if they do, they are likely just 'okay' with it and would likely leverage the 10-07 market rent analysis on the appraisal to actually calculate and determine the official DSCR during Underwriting.Hope that helps, if you do have a tenant who is willing to be flexible, the 12 month is always the safest bet.

It’s important to work with someone who not only offers the right terms but also makes you feel secure in the process.