So it's a house that was my primary residence for 2 years, then a rental for 4 years, then back to a primary residence for 2 years and counting.

It was a primary residence.

My personal house has tremulously grown in value just in 4 years since I bought, which is how I'm able to take a line of equity in my primary residence to use it for investment purposes.

Another option is to get a line of credit either from a HELOC on your primary or an unsecured LOC and then refi to a regular loan when the property is in good shape.Post about what the hard money lenders offer and the forum can tell you if they offer a fair rate.

So if you don't plan to spend over 50% of your time there and intend to occupy it for at least a year, then it's probably not going to qualify as your primary residence for FHA purposes.  

My primary is valued at $300,000 and we owe $215,000 on it.

Lastly, if it is an investment property (not a primary residence) and purchase in LLC’s name) am I even allowed to file for and receive a building permit as I don’t have a contractors license # etc?

My primary concern is how long it would take them to process payments.

Hey BP community,
I have been listening to the real estate and money podcast for the past year. My family (parents and I) would like to purchase our first home primarily for more living space and with the assumption ...

For conventional loans on residential investment real estate, lenders want income, debt-to-income ratio, and credit score...similar to if you were purchasing a primary home for yourself.