This profitable transaction showcased our efficient investment strategy and the strength of our partnership with Seth Choate.

Let's say we use our combined income to then purchase a property we will live in and NOT rent out for at minimum 4 years, potentially 8.

Our typical strategy is to purchase and renovate a property with cash (or Lines of Credit), stabilize it with good renters, then eventually refinance on a 30 year conventional for a more secure, long term investment hold.

I guess it depends how the new assessments compare to how you currently value them.This is our tax appeal guy https://www.utbf.com/attorney/john-k-fiorillo/

I'm wondering what will the possible penalty to be if the property we purchased not as our primary residence by using VA or FHA loan after lender found out?

We have been researching our market and are very ready to buy an investment property.

According to our lawyer and case study, our base starting pay back is the 75k + taxes, interest, and insurance and not the 200k we paid so we subpoenaed the previous owner for all of his figures he spent renovating the house.

Sara Cunningham yes it will be our personal property.

I recommend you print, study, and highlight the HUD guide: https://www.hud.gov/sites/dfiles/PA/documents/HUDAsstAnimalN...You should also check with a local HUD office to see if they have any additional guidance they can provide you.Keep in mind, not everyone is subject to Fair Housing requirements and you may be exempt from allowing the ESA! 

This profitable transaction showcased our efficient investment strategy and the strength of our partnership with Seth Choate.