Plus, even if I did bring an appraiser from a bigger city it would cost $3200 for a restricted report and $6,000 for an unrestricted report that a bank would accept.

I currently own two rental properties in the Houston Heights (single family), as well as a shore home (Short term rental on AirBNB) in Treasure Island Flordia.

This is complicated, expensive to set up, and as restrictions on who could invest.

You don't have to be a first time home buyer but there are income restrictions.

Everyone's small is a bit different and based on that answer, it will likely push you to different neighborhoods in town.Popular neighborhoods we are seeing right now:  Washington Heights, Nash Park, Grasslyn Manor, Sunset Heights, Capitol Heights, Story Hill, Silver City, Johnson's Woods and the City of West Allis.  

PCS moves give a chance to justify new home purchases regardless of how short the period of time was since purchasing the previous property (ie FHA and VA primary residence restrictions)Steady government salary makes it easy to qualify for a loan.BAH in an area gives an easy benchmark for rental prices and what renters you will get at those set prices (ie rank of renters).Renting to military brings a level of protection as the chain of command can force rent to be paid if a soldier becomes delinquent on rent.

This restriction will just create unnecessary externalities that serve no one.Someone made the comment that the sharing economy is the wild west.

I purposely have homeowner insurance that has breed restrictions.

@Jacob PowellIf I could go back and tell my 20 year old self something, I would tell him "buy a 2-4 unit, stupid".Many condos (and even some townhouses) have rules restricting usage as a rental property.

@Edward BowlbyIf you do just a typical refi and pull the money out there may be restrictions on when/how you can use it - for example, with a traditional refi in many cases you can not use that money as a down payment on a new house for at least 60 days.