FHA Occupy a fully rented fourplex

[Ryan White]

Hypothetical question: If I purchased a fourplex, that currently had 100% occupancy rate, with an FHA loan which requires me to occupy one unit as my primary residence, then how do I go about removing the tenants from one of the units? Do I specify this in terms of the sale so the previous owner notifies the tenants that they'll need to move? What if their lease isn't up? I've heard in the podcasts that they usually have problems with tenants they inherit; if I wanted to remove all existing tenants from a purchased fourplex, do I have the previous owner notify/remove tenants as terms of the sale? How does this work?

Thanks!

[Jon Finister]

That is definitely an interesting question and I am curious about what the conclusion is going to be. Not to change the topic of the thread, but if you have trouble getting financed, then look into the Home Ready mortgage program. You can use the rent from the existing tenants as verified income which should help with financing.