It's a fairly easy switch to convert from STR to MTR.

Instead, you need to convert it to cash flow.

Could you simply look at buying in Austin with only 3.5%-5% down as a new primary residence and converting your Midland property into an investment with a monthly cashflow of $500?

Another option if your profit is over that amount is to convert the property to a rental which would then qualify the property for investment use, Then do a 1031 exchange after a year.  

There are other details as well such as borrower documents will have to be translated and converted to U.S. dollars in a lender approved manner.More on DSCR loans: DSCR loans won't use your income to underwrite the loan.

So consider the costs to convert or add space on the property after a purchase, and the income that would be added from the addition of the space.Since the property purchase includes a high price for land already, the rentable space that you add to the property can have a net positive impact on your overall cash flow, allowing you the potential on the right property to reach a net positive cash flow, and also the potential to build a portfolio of properties over time using the strategy.Transparency: I am Greg from BuildCali dot com, and would be happy to help you with any project you have questions about and to share some great free online resources for further research.

Both PS and Roomster were deadends for our properties.My wife and I converted a large house into a triplex in Northeast GA with the express intent to rent by the room.

My tax specialist is telling me I owe about $16k in capital gains tax because I had converted the house for commercial use.

In that case you should go find something that you can add square feet to the place or something you need to convert to a second unit.

They're designed for owner occupants but could be something in which you occupied for a duration of time and then converted to a pure investment later.