When we move, do we have to change the homestead exemption to the new home?

I specify asked about what if I have a change in status after closing, so long as you still own the property HELOC remains in place.

Does that sliding scale change significantly after 25% down?

You're both very young and your lives, goals, and personalities can change on a dime.

Nice to see a retiree on here for a change!

To get technical, you will be going up against the Economic Substance Doctrine which states that a transaction has economic substance if: (1) the transaction changes in a meaningful way (apart from Federal income tax effects) the taxpayer’s economic position; and (2) the taxpayer has a substantial purpose (apart from Federal income tax effects) for entering into such transaction.By transferring your primary residence into a LLC, you would not be changing your economic position.

Also, next economic downturn and you can expect some very serious, very major changes in the TX higher education landscape.

If I lived in an apartment in Queens in New York City or in half a duplex in Pacifica, California, would I have a few thousand bucks invested in tools to fix houses and spend my day like today, where I worked on refinishing the oak strip floor of a bedroom and took a break to go to a tenant's house to change out a showerhead?

So if the average is 95% I’d underwrite to 93%-94% (physical...economic is another story entirely).As to your second question—resident profile changes are a painful process.

Austin TX had a problem with Stealth dorms and changed the limit from 6 to 4 in some downtown areas, and also San Diego had a problem with mini dorms and so you have apply to have 6 or more adults 18 and over in a SFR, and prove you have adequate parking.