This is my primary residence but we've been updating the property over past year.

The property would have been my primary residence that I planned to house hack.

We used a HELOC from our primary residence that we set up to start our investing journey.

In the lenders eyes, the fact that it is not your primary residence means that there is additional risk, which needs to be balanced with a higher interest rate.

Your primary relationship is Landlord - Tenant.

We did this because we won’t be living here forever, and want my full entitlement available for when we do move for a primary residence that will not become a rental.

Normally I would add both on the lease agreement equally responsible for it, but in this case can I specify that the original tenant is the primary tenant responsible for all financial side of the agreement?

Luckily i also learned that you essentially get one freebee as a non-primary residence home owner to pull that permit…every 2 years.

I purchased a multi-family as a primary residence in RI about two months ago, and I recently started looking at Newport / Cape Cod (primarily Hyannis) for a STR opportunity.

Side Question:I don't want to complicate my primary question with any more variables, but as a secondary, ceteris paribus question.... if the owner lives part time in the STR how does one write off expenses not directly related to STR operation, such as insurance and utilities?