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Updated over 3 years ago,
Owner occupant multi-family investment
I am curious to know if the owner occupancy requirement for living in a building for 1 year applies specifically to a unit or to the property as a whole? I am looking to purchase a 4 unit apartment building and live in it while I rehab each unit. I was planning to keep 3 units rented until I finish the first and then swap to another unit. Would I legally need to stay at the initial unit for 1 year or by me staying in the building for which the mortgage is issued satisfy the owner/occupant requirement?