Historically in EBR, though, once the exemption is in place, it is unlikely to be removed unless the property is reassessed, there is a complaint, or some other action occurs to bring non-owner occupancy to light, such as buying a new primary residence in the parish.

.: Quote from @Travis Biziorek: Hey Greg,With $750k to work with, you're in a great spot to make a serious move towards financial freedom through real estate.

The factors to consider are your overall objectives, your credit score, DTI and personal financial condition I recommend you find a broker or originator whom you can trust and have them weigh your options.

I am continuing to make payments on the existing mortgage from the payments received from my buyer, which I am assuming is a characteristic of a wrap-around mortgage where the seller acts as the financier for the difference between the existing mortgage and the sale price.

It's exciting to see your focus on building a real estate portfolio for financial freedom!

I think the testimony of many on this web site would indicate there is great financial benefit from taking either of those approaches.

@Kyle LipkoRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Because the bank did not take the action of starting the process.

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

Id like to put a HELOC on it or redelop it after a few years, the whole points of purchase is this is a booming downtown area lot of development rights etc, dont want to be in a financial structure that banks will frown upon.