However, it’s important to understand the loan’s key requirements:Owner-Occupancy: The borrower must live in one of the units as their primary residence for at least 12 months.Single Borrower: FHA loans are issued to individuals, not partnerships or entities, which means the loan would need to be in your name alone.Given your scenario, only you can qualify for the 203(k) loan since your partner does not intend to occupy the property.2.

However, it’s crucial to track and document all hours worked meticulously to demonstrate material participation if audited.The CPA’s suggestion that your activity would be treated as passive could stem from the involvement of a property manager, as their role could make it appear that you are not the primary manager of the rental.

If it is a primary residence it gets resolved fast, however when is an investment property it is a real pain to get them out. 

The interest rate is also priced like it's a primary home purchase. 

Your primary insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5The best protection for you and your investments?

I’m finally wanting to pull the trigger on getting another property, but this time the primary goal of turning the sfr into an Airbnb.

The main property will be my primary residence.My biggest question is, what kind of foundation would you use, (that is to code and will pass inspection/permits in Charlottesville) that is either relatively easy DIY or cheap to outsource.

No one in my family really does real estate except for my mom which rents in PR and a couple houses in Dominican Republic but these were things that happened by chance (DR houses were inherited and PR was our primary residence when I was little) ...  

Not sure if you own or rent your primary home, but not all DSCR lenders will lend to first time homebuyers and/or first time investors...just a heads up.

For context, I have $80k in liquidity and $1m in equity in my primary residence so working on opening a HELOC and plan to add multiple properties each year through the BRRRRR method.