., going from about 45 percent of residents who rented in 2006 to 56 percent in 2016.Click on the slideshow to see how each of the 50 largest metros fared in an increase in renters from 2006 to 2016.Memphis also had the lowest median rent out of the 50 largest metros — $835 a month in the Bluff City versus $1,440 overall in the U.S., according to Zillow.Another research firm, SmartAsset, recently figured the average monthly rent payment in Memphis to be $769.While more than half of Memphians now rent housing, that figure is still well below the more than 60 percent who rent in Miami, New York, Los Angeles and in the San Francisco Bay area.Of the top 50 metros, 29 were comprised of majority renters (more than 50 percent) in 2016, up from 16 cities in 2006."

Add a Business HELOC "Line of Credit" on your personal residence. 

Where are they coming from, if a private residence you could increase deposit for lack of rental history.

I have owned multiple SFR but all primary residence.

A property has a lien on it currently , but will be ". gone " from the property in a few months ( the line's 10 year probate period Will be up in a few months )The property needs $20,000 in repairs ( materials only )I currently have a FHA loan on a propertyThe ARV on this investment property will be $130,000My all-in cost for the property will be around $80,000My main questions please are:1. will i be able to get a 2nd FHA loan if I make this my primary residence vs an Investment Property ?

I have an HEL on my primary residence right now at 3.5% / 10 yrs at $100k.

What are major concerns for the decision; and how many started out flipping their primary residence and rehabbing while living there?

I know the major industries currently employing residents and I know what industries are moving in/moving out of the area.

In the past, the FMR has usually been lower than local rents, but with the spike in residents and the popularity of Nashville, sales, rents and property values have skyrocketed, as I am sure you are aware.

I'm a first time investor and would like to "house hack," so I can establish residence there and at least cover the mortgage with the other rooms.The real questions that I don't know how to answer are the due to the fact that I'm a 1099 and have been for years.