His REI is an after fact, the hopeium sales are primary.

After a rough first year where I lost money for 8 months followed by another 4 months of learning how to self manage remotely, I had a great 13th-25th months where we have kept the placed booked, kept it profitable, and largely reinvested into the property.Here is the question though-  to buy the first property, my wife and I used a HELOC on our primary and used that for the downpayment on a new property,  for the furniture, appliances, etc, and all of the other little costs that go into getting going.  

DSCR loans are widely available to first time investors, but they are considered business purpose loans and you will be required to sign documents stating that neither you nor any family member will occupy the property as your or their primary residence as long as that loan is in place. 

That’s our primary method of communication so it works.

how long have you owned it and was it ever your primary residence? 

What are your primary financial goals (e.g., early retirement, maximizing cash flow, minimizing debt)?

I am an investor/agent and own 5 and it's my primary investment strategy.

That means either you won't cash flow or your Return on Equity (ROE) will be terrible.Since this is your primary residence you'll be exempted from paying capital gains taxes when you sell.If you sell to your parents, it will be considered a non-arms length transaction and will get closer scrutiny.

My wife and I are officially under contract with a new primary residence, with the goal of moving and then turning our current home into a rental.

Hey Ed - this one wouldn't qualify with DSCR if one of the houses is your primary (assuming all are on the same tax parcel).