I'm assuming there is still a mortgage or primary lien on the property.

There is a strategy of buying a home to live in as your primary residence, lock in a good low interest rate with a lender because it's your primary residence, maybe on a 20 year loan, 15 year would be better, and of course you could always do a 30 year loan.  

Hello BP:This is my first post on BP and am looking forward to gaining some valuable insight from the community.We recently purchased our primary residence with a HELOC and wanted feedback on how to invest surplus cash (~$1100 per month).Should we focus on paying down the HELOC or invest in aggressive funds or real estate rentals?

Is it the owner's primary residence or an investment property?  

They will move out themselves in January under the premises that it was their choice and not an eviction.if you do, they let me know it works.

@Layla Savant, an owner occupied primary resident would be foolish to convert his property to a rental for the purpose of doing a 1031 exchange. 

I'm currently looking for a 2-4 family home as my primary residence and first investment property. 

I live in Billings (south central MT) where my husband and I own our primary residence.

More by accident, I've had a single rental property since 2009 as a result of purchasing a foreclosure home for my primary residence and not wanting to take a complete bath on the sale of the townhouse I was previously living in.  

I purchased a SFH for my primary residence about 3 years ago via short sale.