Going forward my primary startegy is buy-and-hold but I am open to fix-and-flip.I am excited to be a part of this community!

Refinancing an investment property is a little different than refinancing a primary residence, so it’s important that investment property owners understand what they’re up against.

A con is that it will limit potential buyers to only those that will use it as a primary residence.  

You don't need a big down payment to purchase a primary residence.

Address 999 Barry Rd - VTAcquisition date October 2015Estimated value 300,000 (300k)Mtg balance 240kMtg payment (1675 monthlyProperty taxes monthly (included)HO insurance premium 840 annually (included in mortgage)HOA fees if applicable (n/a)Monthly rent Primary residence but rent 1 room out for 1000 per month with utilities)Address 3014 Mallard DR - ColoradoAcquisition date May of 2013Estimated value 220kMtg balance 175kMtg payment 1150 (month)Property taxes monthly (included)HO insurance premium 2057 (annual)HOA fees if applicable (naMonthly rent 2200 Gross (550 Per Unit)Address 138 Hoffman Dr - PAAcquisition date Jan 2008Estimated value 80kMtg balance 61500Mtg payment 440 (Month)Property taxes monthly (included)HO insurance premium 376 (annual)HOA fees if applicable (n/a)Monthly rent 600Address 918 vickroy Ave - PA 15904Acquisition date October 2015Estimated value 20k ($20,000)Mtg balance (n/a)Mtg payment (n/a)Property taxes monthly (unsure)HO insurance premium $924.15 annualHOA fees if applicable (n/a)Monthly rent (duplex 1 unit 400 per month) (Other unit vacant but rented for 300 per month)

It should not be relied upon as your primary source of income for your family, it can be a great secondary source for additional money.Clean up your credit, you will need it to be successful!

If you are purchasing your own home (primary residence), you will be paying your mortgage interest out of after tax dollars and thereis a compelling argument to make a larger down payment (if possible) and avoid the mortgage insurance (CMHC or Genworth).  

@Adriana GattiI think it's best to own your primary residence 1st.

Overall the house is in very good condition in a nice neighborhood.After speaking with him, he owes $30k on the loan and wants to sell the place to be able to pay that property off as well as his primary residence, which I believe was around the same amount owed.  

My husband and I have owned two homes that we use(d) for our primary residence.