I've even converted a single-family home to a residential assisted living property using a hard money loan and then refinancing into an SBA loan.  

I am also currently paying the "investment property interest rate" which is typically higher than the primary homes.It almost looks like the builder clearly followed rules on how many rental units they can actually sell within the community but across the years some primary homes got converted to rental without notifying HOA or mortgage lenders and got mixed up with the "true investment props".HOA now doesn't want to go through the process of identifying "true investment properties" and just want to enforce rental cap regardless of what purpose the units were originally purchased.

In my opinion it was great since it was a typical homeowner neighborhood but didn't want to keep all the nice furnishings, so I left them there then did MTR for a couple years, while doing STR in between to fill in the gaps, before converting it to a LTR to a friend that has been there for almost 4 years! 

One property has a 3 unit and the other a converted barn 1 unit.

Energy costs will rise in the future so converting to tenant paid will pay off more and more in the future. 

If a garage is going to be converted, it needs to feel like part of the home and not like a converted garage.

But to be ranked at the top of their search, you have to show you converted a larger % to actual rentals. 

Parker, using a HELOC can work if you have enough equity in your current home, but you’ll want to make sure the numbers make sense first.Another common strategy is what was mentioned above—moving into the next property with an owner-occupied loan (like FHA with 3.5% down) and then renting out your current home.Before doing that I would look closely at a few things:• Equity in your current property• Your debt-to-income ratio for the new loan• Whether the rent will fully cover the mortgage, taxes, insurance, and maintenanceFrom my experience self-managing rentals, running the numbers carefully before converting a primary home into a rental makes a big difference.

There is, in some markets, also the option, with a multi-family, fee simple building to convert it to a Condominium project.

When people convert their first home into a rental they sometimes treat it like “their house with tenants in it,” which makes decisions harder later.