Your best bet is to sit down with a loan officer and discuss your plans  - they will be able to tell  exactly what you can and cannot do  - you may also want to consider getting prequalified so you know how much you can buy and what your payments would be - this is especially useful in running your numbers to see if a property will cash flow or not.

I mean, technically, it is mortgage fraud if you obtained mortgage as a second property with the intent to rent it out instead of using it as you informed the bank.

We would like to have a HELOC available in order to make offers when a home that is worth it becomes available. Is this a wise strategy? My wife and I have a goal to rent our current home out and pick up a fixer upper...

I've seen another forum post about this, but it was a bit old and I didn't see any discussion around the possibility of positive cash flow after moving out.

@Ivan Barratt Curious why 65% instead of the typical 70% rule commonly discussed here?

Investors always find new ways to obtain properties and create income, so watch the trends.

I want to start out with general real estate discussion forum

@Wendy GuI would discuss this with a quality ADA attorney in your area.

Thanks for the discussion Jason.

They have to have a frank discussion on wh pays.