Although I currently reside in Southern California, I’m looking into long distance investing in Wisconsin, because the market is more reasonable for me, and that’s where I plan on living in a couple of years.

I was just paying my statement balances to avoid interest charges, but when we started shopping for a new primary residence I heard about this strategy and began paying the current balance instead right before they reported and it made a noticeable difference since I my credit report now had near $0 on all my revolving credit.

I have come across articles that say interest rates on home loans can be high as high as 10% to 20% if the house is not intended to be my primary residence.

It depends on the bank @Yash Bajpai , probably a local bank which is all over the state will be better then very small/ family owned bank type. this are much stricter and often just want to work with Local state residents with some track record. you could contact a local mortgage broker that could shop for you.And, if you are planing to buy in this state it is wise to open a checking or saving bank account with one of the local banks.

Would this be the HELOC from your primary residence?

With your VA entitlement you can purchase a 1-4 unit property with 0% down, but you have to live in one of the units as your primary residence. 

Had a question about what the IRS requirements are to establish a permanent residence.

I originally intended it to be my residence, but had to go overseas, and now it's rented out, and has been for the last 4.5 years continuously.

Good Evening All,    I am military, purchasing a personal residence in Pinellas County at the end of this year for our upcoming move to a unit near MacDill AFB.

Scenario:Im renting out rooms in my primary residence.