@Joe EdmondsYou may want to review with your attorney and/or check the rules in your locality as it could be a code violation for a resident not to have access to the electrical panel.

Updated info is excellent credit on primary residence is up to 85% LTV.

If someone resides in an HOA and doesn't have to maintain grass, we strike that clause.

A 203K is a great way to do a flip on a primary residents!

Wife and kids will be primary residents in the rental unit, but the wife currently has no income.

I'm 32 years old, I reside in Eugene, Oregon.

(We will work with our residents once in a twelve month period if they've been a good resident.) 

We need to secure financing, and have talked to several lenders with varying options from ARMs to conventional mortgages. we've purchased several homes as primary residences, but this is our first investment property and I want to make sure we're not screwing up here.One loan we got a quote on was a 10 year balloon, 5 year fixed, with an adjustment after 5 years and then locked in again until year 10.

Also, the unit is my primary residence, and it's in Oakland, CA if that has any bearing on the situation.Thanks for any insights!

Honestly, I think paying off properties is simply a personal choice, whether it be your main residence or a rental property.