If you ever have questions or need to bounce ideas around, don’t hesitate to reach out.

But after enduring my first construction loan gut renovation, along with a couple of other partial ones, this issue has been one of my primary mental obstacles. 

@Nate Jenks no problem, here to help and clarify.When we speak to "cash out" loans in lending the maximum loan amount is usually 80% LTV on a primary home. 

I’m finally wanting to pull the trigger on getting another property, but this time the primary goal of turning the sfr into an Airbnb.

@Phillip Austin I self-manage my properties including some where I do rent by room as a primary strategy, and it is very effective if done well with good screening in place.The difference is starting with shorter leases for me. 

Hey,If "building class designation" is the same as zoning, then this seems like it can definitely be appraised as a two family, with both the legal and actual designation as a two family.Depending where in NYC, that may not help your valuation, as primary residences sometimes sell for more than investment properties, so check that out before challenging the appraisal and definitely before paying for another one.Double check all this with your lender/broker as well.Best of luck!

I still may proceed as it’s my primary residence so the negative equity portion is not my primary goal but it remains a good argument against.

@Brent Hindman Are you looking to upgrade your primary residence or what would you be looking to purchase as the next home?

Does anyone have experience renting out their primary home in New Jersey? 

No one in my family really does real estate except for my mom which rents in PR and a couple houses in Dominican Republic but these were things that happened by chance (DR houses were inherited and PR was our primary residence when I was little) ...