I think the NYC metro area is great for BRRRR, but watch out for the high property taxes - can make positive cash flow difficult in some areas.

But primary markets are a different beast. 

Hi Rafael, I know that @Ray Peslar does a great job on his own reno's and may be willing to GC, but I am not positive he is set up.

I guess I am just a long term debt adverse guy myself.. been there done that when banks called my LOC's it was butt ugly and very painful.. retirement what retirement back to work Jay... and get on BP and network instead of golfing everyday and flying and fishing..

You should be able to buy another property using FHA (assuming your first home was FHA) because your new home is going to be your primary residence.  

I have over 50% equity in an 800K primary residence, but as lenders are looking at my DTI, things seem distorted by the low income on tax returns,  and I'm being told there is no way I can qualify for a 30yr fixed.  

With that being said, I am very lucky, I can't say I am not because I am that God chose me to be in the position I am in now.

And 1st position, 2nd position.

Here are a few thoughts and questions for you:Are you positive that a conventional lender will not loan on it, or is that an assumption (or maybe something you heard from another person)?

My primary goal as of right now is working towards finding a great house hack; whether that might be a multifamily property or a large single family home that could appeal to the college town of Eugene.