Doing an FHA on a 4-plex that is fully occupied

[Chris Edwards]

Hello BiggerPockets community. I have the opportunity to buy a great deal and it would also be my first deal. One of the (obvious) requirements is that you have to live in the property but the earliest lease ends in July. What are some ways around this, if any? Thank you in advance!

[Damian Bialonczyk]

@Chris Edwards

FHA loans require that you move in within 60 days of purchasing the property. The easiest way to accomplish this if the home is fully occupied would be to provide one of the tenants a notice to vacate immediately after you take ownership of the property. Typically, depending on state law, you are required to give at least 30 days notice.