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Updated about 10 years ago, 09/24/2014
Owner Occupied, FHA route, Who gets the boot in a multi that has no Vacancies?
Hello BP,
This might be an easy question but i cant seem to pull in thing up specific when using the search field. Its one of those question that are kind of hard to word correctly for the search. Please feel free to link any past posts that may help me.
Say a small multi is for sale (2-4 units) and the current owner doesnt live on the property. Now if im interested in purchasing this property using a FHA loan which rquires me to live there for a while. Who gets the boot so that i could move in? Is it the current owners decision? Do i look at the units and decide which one i want? Do I have the 4 Tenants battle it out over some classic Rock Paper Scissors?
Im not as close to pulling a trigger yet but i am looking and learning. Hoping for mid-late 2015!! Thank you all in advanced for your help.
Im not sure if laws might be different in your respective state. Im in California fyi