If the local market is healthy and rental income will be adequately managed by a property manager, then a long term residence could be used to build equity.

Investment Info:Single-family residence fix & flip investment.

Also, did you have any other loans (ie student loans, primary residence mortgage, etc) when you took on the $25k? 

Because they were primary residences, we had homesteads on all of them.

All the tax deferral of the 1031 and still using it to purchase your next primary residence as well.

@Landon Sheveland People do fix and flips while living into the property to classify the property as primary residence and not pay any capital gain taxes. if that is your intention, don't use LLC to establish this as your LLC.If your goal is different compared to what I said above, you can use LLC.

Investment Info:Single-family residence fix & flip investment in Kenmare.

Investment Info:Single-family residence buy & hold investment.

If you have not flipped a home, do not have a rental property, and do not own a primary residence, you may have a hard time getting into lending.

I am just starting my investment journey, so have only used Real Estate Agents to assist with buying and selling my primary residence.