:roll: )I'd pay off the residence with extra principal payments on top of mortgage payments, while making regular mortgage payments on both rentals.

I'm 27, have a mortgage on my current residence, but haven't made a purchase for investment yet and I work the rat race still, just like any other aspiring investor here.

We would move into it and put our residence up for sale and buy a home to live in until we croak.

mrosson:Like you, I also reside in the Pacific NW.

I'd have to hold one year and a day at least I understand if I did move in it as a residence and hold for five years to get tax free gain.

To avoid paying capital gains taxes on the sale of my personal residence before I live in it for two years?

Hello and welcome from a fellow resident of the volunteer state.

As far as a complete DD checklist thread, i have not seen any such thing, yet :)For a private residence, i would do some basic things, these will lead to other things for you to investigate.

I have about $350k in equity in my primary residence.

If this is a primary residence, then perhaps FHA would work at 97%LTV.I'm also not sure why you are looking for full OR stated doc since if your borrower qualifies with full income documentation they will always get a better interest rate and higher LTV.There's just not enough information in your post to warrant a phone call to you but if you want to discuss further, shoot me an e-mail.Ken StampeBank of AmericaMortgage Lending