HI Vincent,When you say "personal home", do you mean a primary residence?

Hi Michael, Would you be using this as a primary or investment? 

The property is about 3 hours drive from my primary residence and I go there once or twice every week to work with my contractors to coordinate and manage the renovation.

My provisional strategy is to put a room in a property up for rent while also living in it as my primary residence for a year. 

Other rust belt cities such as Cleveland and Detroit are likely also good options, but I can't speak from experience on them.All that said, why buy a rental property instead of a primary residence?

I want to purchase my primary home there with creative financing options, because like all of us I want to set more favorable terms than the traditional lenders can set.

One thing to keep in mind is you only need to put 5% down for a primary home and 15% down for an investment.

I love that you rented two of your bedrooms as mid term and short term rentals and made enough to pay for the mortgage and now you are going to use the rental income to show you can qualify for another property.This is an excellent strategy and one more people should consider doing in this inflationary environment to offset the biggest cost in their budget--housing.As you rightly point out, you can use this strategy with every house you buy accumulating a portfolio of houses that you originally started out living in as a primary residence every two years.Well done and more people should consider doing the same, or rent their garage, or shed, or a boat, or an extra car.Love it!

I would venture a guess that the state of PROFITABLE is the primary importance.

He has 6 investment properties and his primary home.