I've mentioned again and again that making a future rental property your primary residence for a period of time is the most advantageous way of investing. The other day, a reader asked me to explain, so I jotted down my short list of reasons for you.
1. Living in the property may qualify it for a Homestead Tax Exemption and decrease your Capital Gains.
2. You'll better understand the benefits and challenges of the home and it's surroundings.
3. You'll qualify for primary residence loans, which are incredible right now.
4. There are no holding costs if renovations are required. You have to live somewhere, right?
5. Being present allows you to be more involved and oversee contractors since you're there during off hours.