Upcoming neighborhood, tenant occupied Sec 8 high rent How did you find this deal and how did you negotiate it?

Anyone know what the owner occupied home rate in that area is?

Also, many of them are still occupied (40-80%) with students even though UofSC is not in school.

I have a 3 and 5-year old and can't imagine willingly stepping into such a thing...that's just me.As far a loan, you want to a normal owner-occupied residential loan.

There are some owner-occupied segments with people who share motivating factors for selling their home.Seniors with Long-time Ownership: often ready to downsize or transition to assistance.Homeowners with Low Financial Stability Scores (FSS): Struggling financially and likely ready to cash in on their asset.Both these categories have additional advantages in that they probably don’t haven’t been updated and may have deferred maintenance.

If you buy as an Owner Occupied then you must agree to live there as your primary residence for 1 year prior to making it a rental, if you don't owner occupy it for 1 year, you have just committed loan fraud and if the lender becomes aware of this, they may report it to legal authorities?

It's not something I would do immediately as it is 100% occupied.

Sorry to be the bearer of bad news, but there is no financing available in the residential industry for Non-Owner Occupied Mfg.

Asking price: $380kRent: unit 1 $1200 tenant occupied , unit 2 $1200 currently empty, unit 3 $800 tenant occupied.

I have an offer out on a triplex that we are planning to occupy while planning to rent out our current single family home.