That can happen if you buy a home that needs a little TLC or renovations and after the upgrade the new ARV might put you at that 85% LTV or lower, possibly even be able to take cash out.As a first time home owner you can use FHA 3.5% down or Fannie Mae 3% down (single family).

Negotiate terms like purchase price, down payment, interest rate, and repayment schedule.3.

Given the fact that I’m single and have zero dependents I figured it may make sense to move to the new house for at least a year to get a primary residence mortgage with a lower rate and rent out my existing house as a furnished mid-term rental.My question is around taxes: my current home needs significant repairs and updates (about $20-30k’s worth 😬) before it’s ready to be rented (the pool enclosure went partially down during a storm among other things).

For example, interest rate buy-down, home warranty, etc? 

@Trey Campagna without knowing much about your situation I'd say the first thing to do is to use a VA loan to buy a primary residence with as little money down as possible and the lowest interest rate available.

You get the write off for the repairs and still collect 100% of the rent so there’s no question down the road about gat happened to the missing rent.

Slow down and take a deep breath before making decisions especially where money is concerned you can sometimes be blinded and make bad choices. 4.

It will all come down to the STR regs in the area.

I find data on free sites like Zillow extremely helpful for days on market for certain homes, and it allows you to sort by bedrooms to see how long a potential property may sit on the market at this moment (great for comping rent prices in the area as well)if I were to live in the property, I would take advantage of the FHA low down payment option to keep cash in my pocket for Reno costs  Hope this helps!

Example with conventional I have 20% down, if the refi requires 30% to stay in then the extra 10% is limiting.Rents in the areas I am looking come in on average $2000 mo. for a place costing $250k.