Hey Gerardell - This strategy is indeed effective and to one of the previous comments, staying there for two years will qualify you for the section 121 primary residence tax exemption at the time of sale. 

This is particularly restrictive when attempting to qualify for larger balance home equity lines of credit of $350-400-500K. 

@Colby Wartman This is not tax or legal advice but my opinion as a person who qualifies as a real estate tax professional. 1.

Also especially for DSCR they will want a family strong appraisal and comps, but some lenders can also utilize proposed DSCR income to qualify. 

Renting the unit to someone qualified helps tremendously to get your head back in the right place.

@Eli KingThe seller would need to contact the servicer of their loan and confirm it’s assumable.You would then need to qualify with that servicer plus have the funds to cover the difference between what remains on the loan and the purchase price for the home.

If they still want to apply and have us hold the application for something that comes open later, I'll hold it for up to two months so it's not wasted.I also try to discourage people from applying if I think they won't qualify.

They may decide to buy a house or get a job of high enough quality that they do a background check on them and they need to get the judgment released in order to qualify.  

Hello BP,I am fresh into the real estate game ( about 8 days old) and I am hoping someone has an answer.I qualify for the veterans home loan in NYC.

When my friend went to ask him during the break about that, since we did not know Tim Bratz and we certainly would not qualify qualify our 2 hour attendance as a "substantial relationship" with him, he was annoyed and his answer was: "Talk to Fadi back there.."