Question about owner occupied loans with rentals

[Michael Clark]

Hello all, I'm looking into buying my first investment property. Ill be using an FHA loan, which means ill need to live in it for a whole year. What are my options for buying a triplex with all month-to-month leases? Could I purchase it and just let the bank know I won't be occupying it until the 30-day non-lease renewal period is up and the tenant is gone? Thanks so much!

[Jonathan Taylor]

@Michael Clark some banks allow letters of explanation stating as such. I've done that for some of my clients and some lenders allow it. Ask you LO and see as each state may have different terms on vacating a unit for the owner to occupy.