I'm looking to get into the residential REI market here in Houston, TX.I purchased my first property 1.5 years ago (my residence) in Pearland and have witnessed the market take off.

The last stat I read was 42 percent of residents are renters in San Antonio.

This individual states that if we own a primary property that we reside in, we cannot for any reason buy a rental property and alternatively live in one of these units and put our primary residence up for rent and have it considered owner-occupied because we already own one property. 

If my assumption is correct and he is only planning to live overseas for a short period of time then I doubt the bank even knows that he is not currently using the home as a primary residence. 

Their HELOC rate is prime - 0.25% up to 80% LTV for primary resident.

This individual states that if we own a primary property that we reside in, we cannot for any reason buy a rental property and alternatively live in one of these units and put our primary residence up for rent and have it considered owner-occupied because we already own one property.

Other issue is after driving thru the park the place looks like everything was rigged together by the residents.

I have identified a foreclosure that I want to jump on for my primary residence.

I just bought my current primary residence just under two years ago, so moving is not an option.

Likely 1 primary residence then 9 rental properties.After that i'd suggest using additional capital leftover to purchase commercial properties as opposed to paying off those residential mortgages early.