As a California resident, I'm about to rent out my home and want to set up a 2 year contract with future tenant.

HML’s don’t generally care about your credit or the equity in your personal residence.

As a fellow Orange County resident, I can relate to your cash-flow dilemma.

I advised him to speak to his accountant after I asked him if it was his primary residence and he said it was not.

My question is would that protect your personal assets (my car and primary residence for instance).

@Joel Knutson I'm not the most experienced as I just embarked on real estate, but from watching the market here and from buying my own residence, I know how competitive it is in the 200-250k SFH market.

Just getting into property investing with the intention of buy and hold and self managing the rentals.In the past we have bought and sold properties that were our principle residence and done well.

My wife and I are house hunting for our primary residence, but we eventually see it becoming a rental.Around here (Northern VA), pretty much any decent place you find is going to be tied to an HOA, a condo association, or sometimes even both.

In my opinion my personal residence is not an investment.In your situation, my focus would be on selling my current home quick at a price that is acceptable and the new home I'm buying is where I want to live.Hope this helps.

I am a recent college grad residing, and hopefully soon investing, in Racine, WI (between Milwaukee and Chicago).