Using an FHA 203K with Inherited Tennants

[Alex Nelson]

I'm looking to get my first duplex to house hack and I've come across a delima in my strategy. I'm planning to use the FHA 203k loan to finance the purchase as well as the repairs. The problem is that on this loan I would have to complete my repairs within 6 months of purchasing the property. One of the properties that i am interested in has tenants which are under contract for another 9 months. Obviously this would make it difficult to renovate the other unit of the duplex if it's inhabited and with the 6 month timeline being eaten up due to the 9 month contract, I'm not sure how it's possible to do the renovations on the loan.

Has anyone had experience with this? Does this mean that my deal isn't possible to do as I've planned it? Is there any way around it?

Any advice is appreciated!