If I took out a Loan for a primary home. and before that closed took out a an owner-occupied HELOC on my current home.

@Rachel Wagner - if they intend to live with you in the property as their primary residence, yes. 

Our dilemma is what’s the best route to execute buying a second home right after we close on our primary residence?

How does the property tax work for investment homes in Texas/Austin area (when they are not your primary residence/and you cannot claim homestead exemption)?

@Josh Boulanger different lenders will have different guidelines/regulations for a primary residence vs. an investment.

@Dave SpoonerNot sure where you’re at but for a second home/vacation home (atleast 100 miles from primary residence) it’s 10% down

I want to get a HELOC on my primary residence and need at least 90/10 LTV to make it worthwhile. (95/5 would be even better but I’m not sure if that’s realistic.)I always hear people say to look at local credit unions for the best terms. I live on the Maryland side of DC.Can anyone recommend a credit union in this area?

Seems to me you'd be "safer" if you buy each of them as your Primary in the first instance, one at a time. 

Although this is a 2nd residence, they moved into it a few years ago so they could fix up their primary residence.

I will list the details below for you to review.Asking Price: 275kProperty Details: 3be/2ba, 1350 sqft, 8600 sqft lotRehab cost: 20k (cosmetic fixer-upper like fence, paint, lawn care)ARV: 310k-330k Purpose: I planned to buy this as a primary and rent out 2 of the room for roommates.