Los Angeles Duplex Owner Occupancy

[Caroline Marilyn]

Hello all!

So excited to have found this resource.

A friend of mine and I are going in together to buy a duplex (to actually own property in the madness that is LA). We've been told that even if a duplex is fully occupied, we can each (as 50% owners) owner occupy-evict a unit. (we would, of course, try cash-for-keys first.) Therefore, we'd be living up and downstairs of one another.

Has anyone ever done this? Is it still considered a rental property if we, as owners, are living in the entire space? And should I bring in roommates within my unit to help bring down costs, can I "sublet" a room in my place? It seems like I can't have them on the lease because of the owner occupancy. But I would like a roommate to sign something. Maybe a roommate contract?

Brand new to this and looking for any insight. Thanks everyone!