Owner Occupied Investing

[Devin Ellinwood]

What are the complications and consequences of not living in an owner occupied multifamily property for 1 year but telling the bank that you will be living there for 1 year? Ive been told by multiple people that its not a big deal and that i can get away with it. Has anyone done this or would you recommend doing this to maximize cash flow on your first investment? Please advise! Thanks!

[Andrew B.]

Worst case scenario is you are put on criminal trial for mortgage fraud. Probably pretty unlikely, but you never know when they will try to make an example of someone.