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Updated 11 months ago, 02/02/2024
Can I do an FHA 203K on a lot with two duplexes on it?
Hello all. I'm a newbie investor based in Atlanta looking to invest in my 1st multi-family property using the FHA/FHA 203k loan. I found a fixer-upper property that has two duplexes on one lot. They were originally duplexes, but have both been converted to single-family homes. My idea is to do the FHA 203K and renovate them fully, converting them both back to duplexes. I found another lot that had a quadplex & a SFH on it. I like the idea of living in the SFH while renting out the quadplex. Will I be able to do the FHA loan with two properties on the same lot? Is this feasible when there are two homes on the same lot w/ two different addresses? Any insight/pieces of advice are helpful!!