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

Since your lender requires prior experience building and selling/refinancing a single-family residence (SFR) on your own property, you may need to adjust your approach.

In some cases, after running the numbers, I’ve even faced potential negative returns, causing me to miss out on promising deals here in South Florida.That brings me to my question: I currently own two homes—one is my primary residence, and the other is a rental property.

Our primary residents also has some equity, I have a HELOC with $166,000 available funds.

If they want their money back fast like a flip then let them flip it and you buy it as a primary residence with a conventional or fha mortgage.

@Nicholas A.House Hacking a primary residence is the best way to generate wealth. 

When it comes to analyzing properties, I’ve developed a specific checklist to make sure the home fits both resident needs and operational goals:Square Footage: Ideally, at least 2,000 sq. ft. to ensure enough living space for residents and staff.No Stairs or Pools: It reduces liability and keeps the home accessible for everyone (this is just my preference).Corner Lots: I love corner lots because they often provide extra parking and outdoor space—both of which are critical for families and visitors.

He also does solar deals that are out of this world in Hawaii but you need to be a Hawaii resident to get the full benefit.. what size are those developments?  

@Kris TohovitisI wouldn't recommend using your cash to pay off the mortgage on your primary residence since you can likely get a better return on that money by investing it.What's your buying criteria for the multi-family property?

The lighting is a little dark in the picture but this will be a lovely/bright kitchen and living room for our next resident.