Starting in MFR with intention to move to SFR
My wife and I will be moving to Tampa sometime in October and I am trying to purchase a distressed MFR, renovate it, refinance, and then live in it while renting out the other units. However, I don't want to live there for a long time. I plan on living there for 6 months- 1 year and then purchasing a distressed SFR, renovating, and then moving into it as my primary residence. My plan right now is to use a HML to purchase the MFR, and then refinancing out of it after renovating. I then plan on using the money I pull out as a down payment on our eventual primary residence (SFR). Will I run into any problems when trying to get a second loan, or will the fact that it's an income property cause lenders to look at it differently? Looking for any guidance as I'm sure there are some people on here that have done exactly what I'm trying to do.