You could do something like what you want if it was your personal primary residence and even then the interest rate would be ugly. 

I have a 780 credit score and no debt besides my personal residence.

You can apply for permanent residency after five years.

I completely agree with @Ashish Acharya's points about the cost-effectiveness of a HELOC and the potential credit implications if it’s secured by your primary residence.

The property either has to be zoned a commercialZoning or - you have to own both HPR parcels and have one be a primary residence .

I haven’t done my first deal yet, but through hiring a local contractor to build my personal residence I had this idea that I don’t hear people talking about.

(C) As used in this Lease, “Premises” means that certain private dwelling residence situated in ________________________________________ County, Minnesota and having an address of ____________________________________________________________________________________.

Typical cost for the setup would be in the $15,000 range which would include production of the Private Placement Memorandum, Subscription Agreement, and Operating Agreement, Investor Qualification Forms, as well as filing Form D with the SEC, and state “Blue Sky” filings in those states where your investors reside. 

We charge a transparent monthly fee for this and our digital property management platform - but we are not a local property manager.We also give owners the ability to use a repair triage service and our vendor network, or address repairs with their own handyman.Our goal is to make renting better for owners and residents.

Tourists, retirees, and seasonal residents provide a steady stream of potential tenants.Lifestyle Perks: Let's not forget the amazing Florida lifestyle!