FHA - 2 Duplexes on one Lot
Hello BP! I have hidden in the shadows a good while doing much reading and familiarizing myself with various aspects of real estate investing.
Now that I am looking at buying my first rental property, the more unique questions are starting to come so now I must engage a little further.
I am currently looking at a property that has 2 duplexes on it. All under the same address. Because there are 2 separate buildings on this property, I didn't know how FHA would apply to this situation. Would financing still happen in a similar fashion as if I were buying a fourplex? Thanks!
Most Popular Reply
The issue here will be comparables.
If this is a legal 4 unit property, we would need the appraiser to find other legal four unit properties that are set up the same way. We need to see that this property is common and customary to the area