The property does not have to be occupied, but the lease does need to be executed.  25% equity is usually the sticking point for most with an FHA loanConventional loans will only require the executed lease to count the rental income of the property you are leaving.It might not even matter if you could afford both loans but if you need rental income the above is what you need to know.OVERLAYS - having said all of that, the bank could actually have rules that are different than what I described above. 

Also not sure if your condo has many requirements for tenant approval and abiding by rules for any short term rental so do you find it be relatively simple to handle from another state?

The one in the redfin link, show that:sold date:   3/30/2018sold price:  $290,000Total Rent (inside the listing details):  $3,250  ($900 + $850 + $750 + $750)For long term buy and hold, it meet the 1% rule requirement. 

Any advise on the rules/ requirements for Missouri would be helpful. 

My question is,  are there rules, regulations, qualifications or RESTRICTIONS on using a line of credit on a commercial property to purchase other properties?

I am curious about this approach. I am still considered new to the investing game. I moved to Atlanta from Memphis TN about 5 years ago. I started out strong with real estate in Atlanta 4 years ago and did it for abou...

California has a lot of special rules that you probably want to look into a CPA who is based in California or at least very familiar with CA tax laws.After 4/17 you can try reaching out to @Logan Allec who is very knowledgeable about real estate and a regular contributor on Bigger Pockets.

It is so important to understand the rules and pitfalls, it can be so expensive and time consuming to make an ignorant mistake and end up in court.

If there is already one registered in the location you are looking to purchase you may be out of luck. http://www.uppermichiganssource.com/content/news/New-short-term-rental-rules-passed-in-Marquette-421691693.htmlMARQUETTE, Mich.

Not sure what the forum rules are for emails or number, but you can hit me up on goldenstatesurf.com