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Updated over 9 years ago on . Most recent reply

User Stats

32
Posts
2
Votes
Ryan Detzel
  • Wilmington, MA
2
Votes |
32
Posts

Owner occupied if I have my mother live there?

Ryan Detzel
  • Wilmington, MA
Posted

We need to move my mother out of her rental because the place is falling apart (really bad landlord). She's been there for over a decade and she pays so little rent that it's hard to find a place that we wont have to subsidize her rent which I'd rather not do. Another option we're throwing around is buying a mult-family and having her in one side while we rent the other to at least try and break even. My main question is if we have her on the title could this property could as owner occupied and get the benefits that come with it even if we're paying all the money down/monthly? What other flaws do you see in this besides the "working with family" aspect?

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