He is our resident 1031 expert.

Strong credit, adequate reserves and impeccable track record.

But I would like to invest in other properties as well as my primary residence.

If you are tight on cash stick to wholesaling until you build up a reserve.

Now I have no choice but to make it work.Fortunately I did have some reserves at the time, but they're dwindling fast. i figure I can make it about 3-4 months with what I have left, but -knock on wood- as long as I can get this house sold within that time, I get my money back, and I make a healthy profit.

If you pull some more equity out of your primary residence and can pay it down to an 80% LTV (if you have any left) and the rate should drop dramatically.With an 80% LTV you could get an interest rate around 6% and an I/O payment of about $760 plus taxes and insurance.

You might look at purchasing some property now or doing it for your personal residence, but I would wait before you start remodeling for resell.

I am prepared to puchase my first house and am wondering if it makes more sense to make it my primary residence (because of the perks that come along with this), or just do a short sale or wholesale deal for my first property.

Yes,If you're claiming it's a personal residence when in fact it is a rental, that's MORTGAGE FRAUD!

It depends where you are located, but there is a hard money loan program that will; here are the details:100 LTC (between 65-75 ACV)10.99%~11.99%4-5 PointsSpec or Owner/Builder Allowed6-18 month maturity (extendable to 5 years)Interest Only PaymentsRepayment is based upon disbursed funds not total loan amountNot FICO Driven (equity driven)No Reserves RequiredIndividuals, Corps.