Home equity lines are for a residence you live in. 

-How long do you plan on residing in the area? 

We purchased our first private residence using a VA loan and we had full intentions of staying there for good, however a job change required us to move out of state 6 months after buying our house.

I am on my third personal residence and I basically moved up by buying the first two cheap and improvising them and selling for profit.

We have two SFR rentals in Alabama right now, one duplex rental here in Indy, and we will soon be renting out our primary residence, which will be our 4th rental property. 

@Tobey Scadlock You won't be able to apply for an homestead exemption until; 1. you quiet title on the property and 2. it becomes your primary residence.   

Considering buying a duplex as primary residence.

Rather than doing a Recast, if I invest the $50K into another SFH (at a price point that’s right for me) I’ll end up with $0-100 net monthly cashflow compared to my 3 other SFHs that are producing $2200/month net monthly cash flow (cumulatively).Based on the incredible growth going on in the Boise/Meridian Treasure Valley area (with an additional 400,000 new residents expected to move into the valley in the next 30 years) is it worth it to have a rental in my portfolio that is funding its expense but not netting anything to me?  

This has been a multi-year full gut rehab and addition primarily done by myself, My fiancé is in her last year of her residency, so we will likely be moving next year.

The only immediate repairs I saw where the chimneys need retoppi g, the dtiveway needs redoing and the basement qindows need to be boarded in and insulated. the rest is cosmetics as long as the residents stay.Originally posted by @Jim Goebel:@Brian FooteHiIt's going to be hard to say precisely without knowledge of your market however those rent numbers are pretty good if I'm seeing the $1600+ for what you're getting into the property for.The 'gotchas' that I see that I'd want you to really be comfortable with would be that repair cost number - this would have to be a pretty light rehab where you're maybe doing a facelift, etc.