Yes, owning your primary residence is an investment, owning rental property is being an investor and you could have both.

Can we use a Home Equity Loan on our primary residence to fund the remaining 60K loan on the replacement?  

They want the money as a lump sum instead of monthly payments, and don't want to 1031 exchange to another new rental property, but may use the money to buy a new primary residence in the future.

You're welcome to check out our reviews online and schedule a time to talk 1:1 with us to learn more about our platform and property management service to see if it's right for you.I'll send you a DM as well in case you have individual questions I can answer.

I also bought a new primary residence.I'm looking to get number 3 and number 4 this year.

If I want to buy a second home as my primary residence and keep the first and rent it out, can you use an FHA mortgage on the second one?

This area has perhaps 1000 permanent residents and the primary economy is tourism and always has been. 

@Bruce WoodruffYes I will be doing a HELOC on my primary to be able to pay for it and also he has the house paid off

So here is my situation, I bought my primary residence house in the beginning of 2021.

Thanks,KHIf this is your primary residence I'd wait a year before even entertaining this idea.