If you build a relationship with a Banker you can call and have a detailed conversation about rates.

Closed with no issues, inherited great tenants and have really enjoyed living in this neighborhood Lessons learned?

I doubt it was actually live.

When we start asking questions, and having friendly conversations they get it figured out.But hey...google knows everything. 

If you are living there you can keep the 4% rate.If you are not living there you can rent it out to pay for the property taxes. 

I work in Potomac, MD, and would like to buy a condo or apt that I can easily commute and live in, and then eventually rent out, and then buy another. 

This conversion will begin at the end of the month.I am just sharing the above to give context to my level of experience with this type of investment.I look forward to hearing from you all.

Even better if you buy 2-4 units, live in one and rent the rest - then repeat every 12 months.

You don't want to lose your rate on the house you are living in now unless you want to sell it so since that is an owner-occupied, you need to stay there and save up the 20 percent for the second property based on what you said.

Living for free!