General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 6 years ago,
Please Help! Buying a Multi-Family and Owner Occupying
I need some help.
I am looking to buy a small multi family. The property is a duplex but can be converted into a 4 plex with a little bit of work. The duplex is currently occupied by tenants on a month to month lease. This will be my first property and I want to fund the deal through an FHA loan where I know I have to owner occupy which is my intentions. My question is with the tenants being month to month, can I just buy the property, not renew either leases and then renovate the property and convert it to a 4 plex while I'm living in it allowing me to qualify for an FHA loan? What are tenants rights in that type of situation in Utah?