In terms of opening a bank account, most of them will ask for a local address but a lot of the online banks may not verify it. 

And this is going to get really murky, because the owner claims that he had a long-term tenant, and that tenant was then doing the rental arbitrage deal.  

That conversation might guide how you approach the township about permits, but I would agree with Nathan that you'll likely pay some fines in addition to the typically paperwork. 

I read their cc&r and the only thing I found that relates to rentals is a line that reads “Property shall be used for residential purposes only”But I’ve reached out to the hoa and was told “Our HOA regulations say single family home which means No vrbo or short term rentals.”I’m getting confused since I’m fairly certain that single family home doesn’t mean what they think it means.

@Andres Ruiz decades long debate about which lease term is better!

Planning to sell two investment properties in CA and buy one primary residence in CA.Property 1 is listed and expected to sell in August to September timeframe (Around 150K long term profit, total sale price around 0.85M, no loan)Property 2 is under renovation and expected to be listed in August-September, and close around October to November (around 400K long term profit, total sale price around 1.7 M, around 0.6M loan. ~1.1 M in cash).What is the best time to buy the replacement property?

HELOCs only make sense as short term funding - especially with rates where they are now. 

Overall I feel your goal should be "just enough" to make the prospective (most typical "opportunistic") trespasser move along and find an easier target.

Hey @Adriana McLaughlin - This is actually the FIRST TIME I have heard of the term "ALL-IN-ONE-FIRST-LIEN", but after doing a little bit of reading on it I am not sure I still completely understand.Basically, you apply for a HELOC credit payoff your existing mortgage with this variable HELOC and then in theory have some leftover as well...so the advantage is paying off your loan early and getting access to a line of credit, but the disadvantage would be a variable rate mortgage for the reminder due on your orginal first mortgage? 

Typically about 20% down on each purchase you make.