I had planned on buying a new primary residence  that needs a rehab that i can get way under market value.

I currently work with investors who are looking to begin their portfolio in turn-key real estate and manage for them on the back end so they can still enjoy their everyday lives while having a resident in place paying down their loans. 

Or turning your current residence into a rental and buying another primary and living in it until you can rent it to cash flow. 

However, are you planning to do a 1031 exchange, or is this a primary residence? 

However, consider STR seasonality, local regulations, and management demands, and ensure your equity loan and new primary residence costs fit comfortably within your budget.

To the nuts and bolt question of what defines occupancy, it is the place you reside and spend the majority of your time/nights.

Typically, we conduct background checks on only the individuals who are responsible for the lease (primary resident) and/or cosigners.

Investment Info:Single-family residence buy & hold investment.

Investment Info:Single-family residence buy & hold investment.

That is lower than market and puts you in a cashflow-neutral situation, but it is unlikely your residents can afford that.