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Updated almost 5 years ago,

User Stats

8
Posts
1
Votes
Colton Looper
  • Rental Property Investor
  • Oklahoma City, OK
1
Votes |
8
Posts

House Hacking and Taking Over a Lease

Colton Looper
  • Rental Property Investor
  • Oklahoma City, OK
Posted

Hypothetical/ asking for a friend question here. Say I find the perfect deal on a duplex that I want to house hack. One tenants rent covers the mortgage cost. But there are current tenants in both sides and their lease contracts for the next 6-7 months. I want to take out a FHA loan on the property and move-in in 3 months because my lease is up at that time.

In this scenario,
Because I need to move in, and live in the home for a year to take out a FHA loan and I have to keep the current lease in place, is there anyway to get around that? Or am I out of luck on the particular property?

Any feedback is very appreciated! 

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