If they change the rules and you cannot short term rent it, have a safety net of being able to rent it as a long term rental and at least break even. 

While the terms of a commercial loan are not quite as sweet as residential 30-year fixed (25% down 5year ARM), there are some advantages: you can buy buildings with more than 4 units, you can hold the properties in an LLC, our bank will cross collateralize other assets with no mortgage or where they hold the 1st.

I know safety is a major concern for parts of high point.

. * My budget: I have $10k currently set aside to use towards investing in real estate, and I have another $10k safety net available. 

I know safety is a major concern for parts of high point.

This all goes into what you feel comfortable with as well, risk vs. gain (i.e. getting an Arm if you plan to refi in such a short period).

Personally I would exclude any amount that is directed to non-housing expenses.Lastly, they likely have 'safety' requirements that may result in changes to your home. 

Up to 30 year fixed term available, with no balloons (even on ARMs) . 

We all know it’s not a safety issue, but as a tenant, I wouldn’t want to be stuck in a house that *I* considered unsafe.

Hello BP, have a question on getting creative for financing that I am hoping one/some of you could help provide guidance as my wife and I try to navigate a second property.Our current situation, we have an owner occupied duplex. we purchased this property roughly a year ago and we put 5% down for a 5/1 ARM loan.