Once you own that for a year you can move out of it and rent all the units and move into another one and repeat the process.  

@Anastasia MonroTo achieve financial independence in real estate, focus on boosting savings, improving credit, getting pre-approved for a mortgage, searching for properties with high rental demand, researching local laws and regulations, building a team, staying educated, preparing for property maintenance and management, and being patient and persistent.

I’d like to put a primary mortgage on it during renovation (once livable) to get the 12 month rental clock rolling.I know that I must live in this house the “majority of the year”.

Hi Ruth,For STR (Short-Term Rental), MTR (Mid-Term Rental), and second/vacation homes, DSCR Loans (Debt Service Coverage Ratio) are often the best option.

Facebook and all these online or social media based groups can only get you so far.

I have found a HUD home I'd like to purchase as a rental.

I dont know how they would be if I filed a claim but in terms of adding/deleting properties you just use their online system its really east and price is right.

Is the rental appreciating in addition to the tenant paying down the mortgage for you? 

The biggest thing that you might not see is that some of these rental listings could be overpriced compared to rental comps.

Here's a rundown of our current financial situation and REI experience:Current Properties:Short-term rental in the mountains of NC:- Owned outright- Grosses $2-4k per month- Valued at $400kCondo in Charlotte, NC (long-term rental):- Owned outright- Rents for $2.9k per month, cash-flowing $2k per month- Valued at $350kPrimary residence:- Located in NC- worth $800k, owe $200kMy wife is also a minority partner in an investment group that specializes in BRRRing foreclosed properties.