I am simply looking for general advice and feedback on experiences with this type of transaction.My situation is as follows.Purchased a SFH in May 2016 for $96,500 with an FHA loan for my primary residence.In Summer of 2018 I am looking to refinance to a conventional loan because I believe I will be at 20% equity at this point, if not I will wait a bit longer.I would like to maintain ownership of this home and rent at a rate of $1000/month.For my next property I would like to purchase a home that qualifies for 203k financing.

You can use your 30K for a down payment and cash reserves, and also your heloc to qualify for the hard money loan.

Thank in advance to anyone that has some advice on helping find qualified tenants.  

I absolutely love volunteer opportunities for this reason.Do you have any talents like photography or another skill that you can hone to supplement your income while you work these other means?

Does it still qualify for the capital gains tax exclusion or will one year be considered non qualifying use?

I am close to qualifying for the hard money part to make the initial purchase, but am not quite there - also trying to keep my finances somewhat flexible. 

Also properties that are in large disrepair and thus a price discount might not qualify for a conventional/FHA mortgage, more cash and more risk. 

We were able to resale the property to a new buyer (using owner financing of course) and agreed to continue a similar monthly payment split with the seller.The new buyer eventually paid the note off early when they obtained a bank loan to build a new home that qualified for conventional financing.

If potential applicant appears qualified and interested, schedule meeting to show unit.4.

Guess who doesn't qualify for a commercial loan with limited business history?