I understand we have to live in it as a primary residence for at least one year but are there limitations with actually living in the home?

*Reposting on the Maryland forum*Hi all,I am looking to get a HELOC on my primary to expand my rental portfolio and I came across Andrews Federal Credit Union with the following terms (property is in CA):The contact said they can go as high as 100% LTV after approval of appraisal ($450).

I am assuming you are getting the HELOC for the down payment and that you are going to get traditional debt for the rest of your purchase.A lot of people treat helocs like free cash and then get hurt when it is due. 

When I refinance into a traditional 30 year fixed, the bank will only loan 75% or 80% LTV ($120K or $150K).Long story less long, if you all were to find a $300K deal that you loved, how would you go about paying back the private money you received to acquire the property?

Traditional people from cultures that actually respect marriage.Met a bunch of them.

C) If the above makes sense you may have greater flexibility with the options you have with the multifamily you choose (or other investments that will take you closer to your Financial freedom number)D) if your primary goal is immediate cash flow, CA is a difficult nut to crack for that with multi-families at the moment.

. $500 summer lease-this is around average rent for off campus house with Utilites includedExpensestaxs- $1,700insurance- $2050gas- $1,900Electric- $1,200Water/Sewer- $2,000Yearly maintance- $1,000total= $9,850NOI based on Semester Rents Without Summer leases and late fees $26,000($16,150)Purchasing Home with Primary Home Equity. 

I purchased the property for $150,000 in Oct'2015 and spend the winter of that year renovating it from it's dungy 1950's look to a traditional/modern lake house.

My primary objective is acquiring decent cash flow and the savings that I have aren’t tied to any kind of debt.

Call it what you want, but this is not a transactional loan in any traditional sense and certainly not risk-free.