House Hacking your rented property?

[Account Closed]

I'm closing on a 4 unit property this month. One of the units has a tenant who is barely ever there. It sits empty most the time. I don't mind this- less wear and tear, however I'm wondering if it's possible to house hack a property that someone else is renting. How would you try to convince your tenant to let you house hack? Deal on rent? I plan on furnishing their space (currently is Blahhhh)... so they would also be benefiting from getting a furnished apartment. Do you think this is possible? I'd just love to make more money on this unit if possible. 

[Albert Bui]

Quote from @Matthew Kwan:

If you are buying a primary residence 1-4 units you are entitled/required to live one of the units. In your scenario, you did not need to convince the tenant as you would just have to provide them sufficient notice for the tenant for accommodation to move out.

@Carlos Valencia @Albert Bui

 You need the ability to occupy within 60 days of closing and most lenders will want the tenant to either move out or state their intent to move out so that you can accomplish your occupancy prior to closing.

@Carlos Valencia

@Matthew Kwan