Do I have to live in property?

[Kevin Andrews]

Hi everyone.

I'm new to BiggerPockets and have been going through the site for about 2-3 weeks now, just gathering as much information as I can about REI. I've learned a lot so far and am ambitious on keeping up the learning process.

A question about REO properties. I am in Rhode Island, and looking at Wells Fargo bank owned home. Wells Fargo promotes home ownership by allowing people who are going to live in the home 15 days from listing to make an offer, and then after 15 days offers can be made by investors.

My question is, can I put an offer in on a property in the 1st 15 days and have my brother live there for a couple of months during renovations and then rent it out or flip it? To make a long story short, I would like to put an offer in within the 1st 15 days rather than wait it out. Is this possible given the scenario of my brother living there instead of me (the purchaser)?