A principal residence can get a homestead discount on the property taxes in some jurisdictions.

Otherwise, they reside there for 7 years!

I'm wanting to flip homes but unsure if I would be smart to by a flip , live in it and move on to the next, or if I should go moderate on a primary residence and save cash to buy a flip.

I purchased a property in California several years ago and lived in it as my primary residence for around 3 years.

They then maintain and live in their principal residence after it is titled to the trust.

Here are the facts: 1) Bought home as primary residence in Clarksburg, WV shortly after I was transferred there following 9/11.

And 2) How far away (in miles) will it be from your primary residence?

My current primary residence was a foreclosure a few years back.

In the Summer of 2011 I sold my primary residence for a sizable gain.

Reading another post got me thinking about this again.For those of you who own larger multi-family, self storage, mobile home parks, etc, anything with a "resident manager" who lives on-site--do you give you resident manager signing authority on bank accounts and/or allow them to handle finances?