I might not be brave enough to try that for a flip, but I would love to do that for my personal residence.

Not sure if this transaction would qualify for a 1031:http://www.1031corp.com/1031-exchanges-made-easy/1031-exchange-requirement/Originally posted by above link: ...Examples of non-like-kind real property that cannot be exchanged under Section 1031 include primary residences, “flips,” stocks, bonds, notes, mortgages, cash, equipment, goodwill, inventory and interests in a partnership.Emphasis (bold) is by me.

If you don't ask, the answer is "No".It is unclear if you meant you want a HELOC on your primary residence or the subject property or some other property.

The terms of the tax credit required that I live in the house as my primary residence for a period of 3 years.

In trying to figure out what loan is covered by what law, people will ask, "is it a one to four family residence?"

A property is either an investment that you rent out and (hopefully) generate some income, or its a residence.

I plan on living in this home as my primary residence.

I have a broad sales background, however minimal real estate experience besides owning multiple personal residences over the years.My wife recently completed the book Rich Dad Poor Dad, which has now dominoed into the last two weeks of endless research and studying.

I removed 2 layers of siding and resided.

The covenants states: Section 2 Residence Each Owner shall maintain his Residence in good condition and repair and all exterior colors and materials, including the exterior walls, trim, doors and roof, shall be retained as close to the original as is reasonable possible.