Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 9 years ago,
buying property and owner occupying
I will be purchasing a multifamily unit 2-4units with an FHA loan that requires me to occupy one of the units within 60 days of closing. My question is what if all units are occupied? Would they have to have new leases with me? I would assume that since I took ownership that the previous leases are null and void assuming this is not section 8 ,HUD, or any other govt assisted housing. Do I just pick which unit I want to occupy and give that tenant 60 days notice and have the other tenants sign new lease with me? I live in Florida. Thanks for any input