One would be when you have a primary home and its listed on MLS (for sale) and the bank gives you the cash out until the home sells and the loan is set up for 12 to 18 months.

Hi Paola,If you are looking to buy another primary, looking to put the property into a LLC, may be changes in your income/job, looking for faster/smoother closing, DSCR could make more sense.

To receive the 4% ratio, you have to submit an application showing the property is your primary residence.

You should have a good idea of every expense you have in your primary home, then add the STR specific:  (These are rough estimate numbers, depending on various factors)STR insurance - a special insurance that covers both the property and your liability, could be $2~4k in areas without natural disasters, could be more than $10k in some other areas.cleaning fee - approx. $50 per bedroom, so a 4-bedroom house will cost you about $150~200consumables - bathroom supplies, kitchen supplies, beverage supplies: $20~30 per week, depending on how much you providewear and tear - towels, linen, kitchen utensils, some furniture: $1000~2000 per yearRepairs/replacement for things that guests break or steal:  $1000~2000 per yearAlso, if your personal use is less than 14 days a year, the entire property's expense is deductible against STR income, but if you use more than 14 days, then you will have to calculate the proportion of how many days it's rented out vs how many days you or your family uses. 

If you are buying a primary then you will not necessarily be able to utilize the LLC for this property.

If convenience to local Houston attractions is the primary reason why someone would stay there consider highlighting that in your photos.

@John Leeagree with being picky with where you live and your primary residence. 

I currently live in a single-family primary residence.

The projects discussed on this string are from a previous company called Financial Attunement, where Neal was a junior partner, and a senior partner was CEO of that company and primary decision-maker.

We own 10 homes, but all the rest are traditional leases and are also close to our primary home in the Lake Norman area (all w/in 30m).