I've lived in the property for almost 4 years now and am looking to upgrade my primary residence for a little more room for the family and rent this one out.

I use a heloc on my current residence to fund downs and rehab $ and holding costs. 

New Jersey as any resident knows is a tough market and very expensive (it took us over a year to find our house), but I assume that it is relative wherever you may be.  

@Kai Van Leuven developers developers developers developers developers.I have no idea what people are doing in the city of Seattle w.r.t. rental property, but it feels like every house that isn't an owner residence is immediately bulldozed and replaced with a mcmansion.

My name is Nathaniel Cooper, newbie investor, and I currently reside on the South side of Chicago and i'm looking to network and connect with the many of our successful investors, agents and contractors who want to make some serious money!!!

Once they get 1% of landlords revenue I could see it going up to 2% ,3% in the next years .On the related note San Francisco is also proposing an additional tax on businesses for the homeless . https://www.cnbc.com/2018/07/17/san-francisco-to-consider-tax-on-companies-to-help-homeless.html——OAKLAND — As the Bay Area struggles with an alarming homelessness crisis, voters may soon decide whether to force Oakland’s biggest landlords to pay up to help house the city’s most vulnerable residents.Oakland Councilwoman Rebecca Kaplan wants to impose an extra 1 percent annual tax on rental revenue that exceeds $200,000, and use that money to fund homeless shelters, help homeless residents secure permanent housing and clean up the sprawling encampments that line many of the city’s sidewalks.The city needs more money to tackle the problem, and collecting it from Oakland’s biggest-earning landlords makes sense, Kaplan said.

I have nearly $300k in home equity in my personal residence and am contemplating using my open HELOC to buy another rental.

One other thing to think about is the residency requirements of the VA loan.

What are some ways of generating income in addition to renting out the residence in a house like this?

I currently reside in Clearfield Utah, a city about 30 minutes north of Salt Lake City.I’ve been interested in real estate for the past 5 years, and unfortunately have let a lot of good deals pass me by. 4 years ago, a friend and I were looking for homes in my area.