If you purchased the house with a personal mortgage, is the terms for that note not written so that it is expected to be your primary domicile while also explicitly stating that it will not be a rental property? Of the mortgages that I've had in the past, this is how they were written.
Or were we specifically talking about how to handle that 2nd home. I don't have experience on those contracts.
No buying a house with a personal mortgage requires you to have that house as your primary residence only for 1 year. That's pretty much the core behind the concept of house hacking. Buy, live there for 1 year, move and rent it out, repeat.
Or were we specifically talking about how to handle that 2nd home. I don't have experience on those contracts.