Buying a Property with Tenants as Primary Residence

[Charles Calloway]

I have found a 4-plex that I am interested in buying. I wanted to house hack buy living in one unit and renting out the others. Currently all 4 units are occupied. The current leases don't expire for at least. 9 months. I know in order to buy the property for the lower down payment, I have to intend to live on the property. I planned on moving in a year regardless to repeat the process. If I can't live on the property due to the tenant leases, will I get penalty or fraud allegation?