Hello, looking for some advice about how to use my rental home as collateral for a down payment on a primary residence.The rental we own is in Missouri, worth about $120k, and we own it free and clear. 

Neither of us would use it as our primary residence.

Did anyone else buy a primary residence while in a similar situation?

So that would cost a lot more than me doing the finish work and since it will be my primary residence I’d like to finish it up myself (tiling, drywall, paint, etc.)

It's allowing me to refi my primary residence to lower my rate and get cash out to start investing. 

I recommend getting a nice little property that you can buy as a primary residence asap for little money down and get your buddies to rent out the rooms and cover your expenses.

If the property was primary residence for someone plan to double the property tax bill.

I planned to BRRRR some properties since our primary residence is almost paid off.

You could do that or find another house you like, assuming you have lived in your current house for a year, and make the new house your primary residence. 

If I was planning to utilize a VA loan, I would not want to live in a big tourist or vacation destination for my primary residence2.