If you're planning to purchase as an owner occupant with either an FHA or conventional loan, you should expect to have to live in the house for 1 year before you convert it to a rental property.While you can have multiple conventional loans (up to 10), I believe you can only have one FHA loan at a time, so you'll likely need to come up with 20-25% in downpayment for each property.That said, to build a long-term portfolio, adding one-house per year in this manner is a great way to go about it.

Remember that the mortgage on your personal residence is often the cheapest money you can borrow.You might also buy a home that converts into a good rental when you are ready to move.

But if I ever needed to refinance the first owner-occupied home some time later (maybe to pull money out for another investment), I think I would have to convert the loan to a non-owner occupied loan which might create a situation where the refinance is at a higher rate than the original loan.

For this there may be no "fix" type of solution until a magic way of converting solar energy into electricity at high levels of effeciency occurs, so then it shifts into preparing for the eventuallity.

Mine just converts to a month to month which is ok with me.

I have an opportunity to buy 12 condos from a bank--the owner converted them into condos & tried to sell them, unsuccessfully-- they are in a predominantly rental area of DC, now the bank wants to unload them.

If you want to talk catalyzation, it's basically one chemical that acts as an intermediary of a reaction, so instead of going from A to C directly, which could be very slow (usually is, our body catalyzes a number if important functions, as does your car's catalytic converter for emissions), it goes from A to B very quickly, and then B to C very quickly.There's not really a way to catalyze a combustion reaction, since a combustion reaction using octane isn't that complex and it's already in its fastest form.

Maybe you can get the zoning converted to residential, or some kind of tax break?

just because you wouldnt live there, doesnt necessairly make it a war zone. area aside, IMO I would not convert to the 3/2, atleast not yet, you always can, starting out with such extensive rehab can be overwhelming, and I'd be more interested in renting it ASAP, $900 a month for 39k total investment good number wise in my book.I invest in a lower income area, and every non real estate person I know is always like "why why why" just because they wouldnt live there, or they think its a bad area doesnt mean war zone. there are areas in this town I wouldnt invest, well I would invest anywhere for the right property at the right price, but remember any lower income area means alot more work tenant wise.

My HELOCs can be converted to fixed rate loans if the rates go up uncomfortably.