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Updated over 3 years ago,
Duplex Househack Scenario Help Please
I came across an off market lead for a duplex. As I am interested in househacking a duplex, it is ideal that at least one unit be vacant for me to move into.
This lead/property has both sides leased. Assume I would not have the 20% down for an investor loan and I would be trying to get in with a lessor down owner occupant loan.
Does this situation make this deal void (meaning, I have to pass on it)? Or are there other creative ways to salvage this?
How do I free up one unit?
Is there a rule that leases need to be honored even when ownership changes, i.e. can tenants be moved out at time of ownership change?
Is there a way the seller can free up one unit?
Can the tenants be negotiated with?
What creative ideas exist to still work out an offer with seller?
How else can I negotiate with the seller to "control" the deal/property until such time a vacancy opens up one unit?
Thanks for any ideas