I received wrong information from people in the Portugal RE industry before so I'm not super confident the person I talked to is correct I'm just trying to get more data points.In case it's useful for others these are some other bits of info I've learnedRefinancing is possible but it is more expensive than conventional (usually the spread is 1-2% higher) and it is necessary to explain to the bank what will be done with the money.It is not necessary to wait to own the property for a certain time to obtain mortgage credit.

I would be careful renting it out to anyone who even might use it as a bedroom.....

Describe landscaping work, including lawn care, fencing, and any hardscape additions.11.

No, it's not the sellers they care about.

I purchased a rental property in June with 20% down and financed with a conventional loan at 8.125%.

We don't care.

Also if you're using conventional financing, you will need to wait at least 6 months from your purchase date to use a new appraised value for a new loan. 

Why don't you buy a new primary residence using a 5% down payment conventional loan and turn your current house into a rental?

Just like a buyers brokers agreement you agree up front if you want to work with that broker you agree and go forward if not you don't start.. but bringing it into the deal mid stream don't personally care for that.

To prepare, focus on saving for a strong down payment and maintaining a solid credit profile, as both are critical for competitive financing.If possible, look into FHA or conventional loan options for owner-occupied properties, which may offer favorable terms, especially for first-time buyers.