This is still second position, but will be a lump-sum loan with a fixed rate vs. a line of credit with a variable rate.

Hey Everyone,I am interested to hear your perspectives on whether you think selling or renting my property would be the more prudent option.

You will then have a few options with that rent money....you can put it into principal or you can start saving it to purchase yet another property.

Manuel Acuna and Raquel Barela hopefully we will have something in common in Albuquerque from investment point of view.Jon Klaus what is your position on HUD Safe act?

I'm in the position to apply(depending on lender DTI requirement) for conventional financing through the builder at <6% interest rate in this current market.

Anyone have recommendations for options? 

If you want it can have several options based on different scenarios.

The owner-occupied portion makes things difficult, what options do I have? 

I purchased the home from an auction.Talk to a local real estate attorney to go over options (eviction, cash for keys, etc) 

I am currently looking at buying a new construction home as a long term rental property. sales price $214000. first my lender told me I can do 0 down. and I am really excited about this deal. but later he told me that am not qualified for 0 down because of my income. the other option is that I can do fha with 3.5% down, 6.125% interest rate. cash to close is $14000. my monthly payment is around $1575-$1590.it can at least rent for $1700 as a long term rental property.