Due to this, we have been investigating the possibility of purchasing land and using an owner-occupied construction loan to build a new property.

Figured I would start a little series talking about my day to day in note investing and what the gurus do not teach you as they always make note investing seem black and white where in reality, most of it is in the gray area.Here is an example, you foreclose on a property and the property is still occupied.

Note, I am looking to do this as non-owner occupied...

I get full market price for them for owner occupied..

Are the units currently occupied and tenants paying market value for rent? 

I’m currently reviewing a fully occupied mixed-use commercial building with 8 SRO (Single Room Occupancy) units but have never dealt with this type of property before.

In the meantime work on building a downpayment and do an owner occupied deal in the meantime (that's how I had scratched my itch to "do more".) 

I'm a licensed Realtor who represented myself in this transaction and I closed on a 4plex in Mesa Arizona beginning of June 2024 for $1 Million taking advantage of Fannie Mae 5% down ($50k) owner occupied loan ($950k loan) to house hack this property.

For owner occupied there is some lenders that can lend you up to 90% CLTV for a Heloc.

Total renovation roof to basement. 100% occupied section 8 rentals from two local agencies.