Even OJ Simpson, who visited my next-door neighbors home and replicated their rock pool, had his former residence dozed and leveled and a new structure built in its place (although no one is alleged to have died there).

My understanding is that if you truly sell, even with an installment sale, it would qualify for the primary residence exclusion.

If you purchase a 4-unit and reside in one of the units, you can qualify for super low FHA financing (3.25% for 30 yrs, with just 3.5% down payment), the other three tenants will probably enable you to live for free (in fact, some FHA lenders limit the max loan amount such that 75-90% of the rental income covers the property's PITI), and you will get some great experience.Since you're renting currently and are a good borrowing candidate, this is an ideal way to go.

Real estate and planes, boats.This is of course different if the property converts to residence too soon.

Of course there's a couple of square miles of Austin who's residents pretty much run that city, and by extension a lot of the state.My county, Burnet, doesn't get it from the MLS either, they mail a postcard to the buyer about 60 days after recording.

Im a graduate from Temple University and I currently reside in NE philly.

There are a couple lenders that I know of that entertain working with foreign nationals or non perminant residents on loans like that.I'd love to hear about the investments you've done in France.

Some do seem to be headed by those who think they were knighted into the position and enjoy making it difficult for residents.

I am looking to buy investment properties in WNY and finding it hard as a non resident alien to source a mortgage for several reasons:1 The amount I want to borrow at any one time is only around $30K-$50K - ie to a lender, not really enough to justify the extra exposure to a foreigner.2.

I agree with the other posters and as a former resident investor of O-town,the property is a long term hold. the area has apprecited quite a bit in the last 6 years.