They didn't go in depth as to what exactly that meant but it's safe to assume they want to help a local family make it their primary residence.

For the municipality issuing permits they would only typically allow a homeowner to build for a primary residence of their own, BUT they have little ability to enforce that after the fact.

After all, they are the primary caretakers of my asset!

Hi Dallas, FHA loans do allow for financing up to 4 units as long as one of the units would be used as a primary residence. 

Big no-no if this pops up because why would a bank give you loan for an investment property when you're making late payments on your primary residence. 

I recently had a conversation with my lender and mentioned I would be purchasing a property as my primary residence. 

Can someone please clarify this for me - if I take out a HELOC on my primary residence to purchase an investment property would that have to be for 100% of the cost of the investment property or can I just take out enough for a down payment? 

Imagine if you got to depreciate your primary home. 

I will also move my primary residence as the second single family rental property in the next six months.

Each room has its own exterior entrance from the breezeway.The current owners have operated it as a bed & breakfast the last 12 years, with breakfast served in the main house which is also their primary residence.By my analysis, revenue from the 5 rooms could cover the debt service and operations of the whole property.