Use the $191K and put 20% down payment on a primary residence, put 5k a piece for each rental for reserves, and put reserves aside for our primary as well ?

What special rules do I need to follow (e.g. proper number and placement of smoke detectors and carbon monoxide detectors) that might apply to a rental property that don't apply to a primary residence, or where can I find these rules?

I’ve completely rehabbed multiple primary residences trading up each time.

This animal is not performing a service because the person it is assigned to doesn't reside in the home.

HELOCs are the same way - max is 80% ltv - they are also usually for a primary residence.

No, it is not an easy fix but why force residents to deal with a bad design in perpetuity that can be remedied within a matter of days and dollars.

Again, they were both purchased as "one" primary residence as they were on one and the same parcel which seems to impact the suitability of the 1031 exchange, but again, that's what my accountant is for.

So, I've read quite a bit about real estate over the past few months and I'm really wanting to pull the trigger and get my first rental property soon and was looking for suggestions on where to begin, or if i should buy a primary residence first.A little about me:I currently live in Louisville, KY.

There is a residency requirement if you're going FHA, and you don't want to be caught not living on the premises. 

Hi Bryan,I suggest looking into the equity in your current residence to see if you may have some equity on the table.