My only experience purchasing real estate so far is for my primary residence using a bank.

Also, when you move out, you can either rent the doce where you used to live for additional cash flow or sell the property and do not pay capital gains on the portion of the property that you used as your primary residence. 

This structure will let you capture the capital gains on the land thus far without it triggering capital gains taxes (assuming you don't trigger any of the limitations on the sale of your personal residence, or the gains are more than the exclusion). 

However, if paid off, it would significantly dig into my savings, to the point it may or may not effect the upcoming primary residence purchase. 2.

Aside from my personal residence, I don't have any deals myself. 

I wonder what type of residents live there?

For instance, many people start with single family residences (SFRs) and move up.

Would there be any tax implications (penalties, interests) if after those 5+ years (of unsuccessful rental) I would build there my vacation home or a primary residence? 

The other is our residence with 75K equity. 

This would be my primary residence.