Having a second home less than 75 miles from your primary residence and using it as a STR can cause issues.

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

So, I was looking at moving into a new primary residence.

Basically, if you are lending on someone primary residence is when things get sticky with disclosure laws, timelines, terms, etc. 

@Verna Littleton @Wendy Thurst we rep for NREIG and can share that they will not be able to insure the building if it is owner occupied.If you are living in the property as your primary home, you would get a standard Homeowners policy. 

Last thought is that it is so much easier to get one on your primary residence vs on an investment property. 

I intend to sell one my single family homes (which I can avoid taxes on with the 2/5 primary residence clause) to obtain the needed capital. 

Seller financing, they don’t want to pay taxes, if you live in the area use the 2 out of 5 year tax free gains as primary residence later, don’t rent or lease for housing- rent storage space where they can live.  

We purchased another house and are finishing remodeling it and have about 20k left to spend to finish and move it (cabinets and countertops) and this will be our primary residence.  

Does Mom own a primary residence, is she working in the location where this house exists?