When you buy a primary residence you are typically using a conventional conforming (fannie/freddie) type loan.

I am all for owning your own residence, but really it comes down to your current situation.

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

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.

I am in the process of getting a HELOC on my primary residence at the moment.

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

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

Later on, I found out they appeared to be committing fraud and doing illegal stuff.I believe the seller is a plague on the local community, especially since it isn’t an affluent region, lots of the residents live paycheck to paycheck, numerous people complained about being ripped off.

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.