Primary residence has 100% equity.An existing investment property has 100% equity while another property has some equity and has a 1st note.I'm told that "primary residences" are easier to process for getting the equity from and they have better interest rates rather than investment properties due to risk.If either of these (heloc or loc) are used on a primary residence, is the interest tax deductible for the rental (SchE)?

My husband and I bought our first primary residence in Federal Way.  

Can I use my VA loan benefit to purchase the property from my LLC since it will be a primary residence, and pay off he hard money loan used to purchase the property.  

Ideally this is how I envision the deal (round numbers strictly for explanation):Purchase: $100,000 (20% down, 30-year loan)Rehab: $20,000Sale: $120,000I'd love to keep the loan in place and take the cash from the sale to pay for the mobile homes, other properties, etc, but I have a feeling that is not a possibility.

MINIMUM LOAN AMOUNT There is no minimum loan amount.OCCUPANCY Owner-occupied, primary residences are allowed.

It turns out my hobby and primary personal interest is building and racing cars and I moderate one of the car forums so I should have known this was possible.

My initial plan is to rent my master bedroom out, and move into the second home as a primary residence - stay there for the required year, then rent it out.

He has a rental property which was primary residence but has rented out since was upside down.

Primary/Second home or Investment?

Check your state's Contractor Licensing laws, in California an "owner-builder" can only work on their own primary residence.