If you get a 15 year loan, your interest maybe somewhat lower, but cash flow will be difficult and you might regret it later.Personally, I get the longest amortization period possible, and never regretted it.

It was a disaster for him and he showed his shining true colors by the way he dealt with investors through this difficult holding period.

There is also a look back period, generally 60 months, where proceeds from a home sale can be taken.

If you rent your primary residence for period of less than 30 days, you must possess a zoning permit for limited lodging use.

During that time period I plan to use a VA loan to purchase a 3bd home within Phoenix.

Non-qualified use is the rental time period before the 2 years of your personal use.

@Joe Jensen, talk to lenders BEFORE you buy so you know the lay of the land and have your financing options lined up for when you are ready to move.Not every lender has a seasoning period of 6-12 months.

@John CarboneIn order to legally qualify for a second home, you must occupy the property for a certain period of the year. 

Having a well-maintained property will also reduce the vacancy period.

They may be easier to get to do business with you.1) Acquire a home that meets your (and the banker's) criteria.1.1) Ask the banker to finance the first project for the time period until you can refi into Fannie and Freddie1.2) Ask the banker if she/he has any pull with the mortgage department at the institution to ask if you can go on portfolio for a short season.1.2.1) Bank earns in the short term on the portfolio loan, then when your timeline is realized, they earn on the origination and sale of your loan to Fannie and Freddie.1.2.2) Alternatively, use hard money until you can get your refi.