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Updated over 8 years ago,
What now?
Hi BP,
I am in the first two months of my owner occupied duplex. One of the 22 year old water heaters is shot, and im getting both replaced. I was really hoping i could collect a years worth of rent before the $1600+ repair, but thats the way it goes.
Everything else about the property is holding up well and the tenant is paying my mortgage and putting about $50 extra in my pocket.
Im hoping to do another owner occupied in a year (perhaps spring 2018). My question is, what do i do in the meantime? My FHA loan requires a year long occupancy. Savings $$ is kind of sapped.
Suggestions/advice?
Thanks.