The second application came from another very nice couple who are in the U.S. as legal residents from Europe (they have Visas until 2020).

So I have stuck to that principle and it has worked for me even in my next home (personal residence in CA).The obvious choice (Call it CHOICE #1) would be to look in the same Chandler area and see if there are any deals there.

I already have one rental property that was my primary residence since 2011 and I just rented out last year, and it's doing pretty good, I turned it over to a management company so I can comfortably keep my full-time job.

@Tom HarveyThere are two things to consider: If you are going to live in a home as a primary residence, then you would need to seek out lenders with experience working with small businesses and the self employed.

@Edwin GiraldoYour plan makes sense.I'm assuming you're looking to buy and hold and not for a single family primary residence...You should also consider that buying with cash will then give you options later to refinance to pull 60-75% out once the property is stabilized and generating income.

hello all,I have a question that has been ponder on my mind. i currently reside in N.Y. and thinking of relocating to Fort Lauderdale fl. and purchasing my first owner occupied rental.question: when i use my current job income to quality for my loan. will the bank question my future job once i relocate to florida?

Not to mention that not occupying a primary residence purchase is technically mortgage fraud (definitely not mortgage fraud police, but that’s what a lender would tell you).

Hi Forum,I have a complicated tax situation and am looking for general guidance or a referral to a real estate accountant in California who can help answer.Facts:The property is a California residence appraised at $3M owned by the trusts of two now deceased great-grandparents, with execution of estate succession in progress.

Property Location: Moss Point, MIssissippi32 unit complex4 buildings sits on 2 acres and all units are on the ground floorAll 1x1 units (Market Rent: $500/mo) 60% Occupied ( most occupants are long term social security recipients ) Per the seller (seller from out of state) all vacant units just need cosmetic rehab to be market readyPotential Gross monthly income: $16000 ( all units rented and are paying market rate) Current Total Gross Income: $7400 ( due to vacancy and residents paying BMR) Current Monthly Expenses: $1941Monthly Note Payment: $3419.43Asking Price: $660,000Seller Finance Term: - Seller wants to be cashed out for the amount left over of the loan balance ($295,000).

Scenario 3....you could tap into some of your equity on your current portfolio and your primary residence if you have one and start doing BRRRR's and flips to generate more capital and more buying power.