The seller was selling to the tenant living in the property.

I lived in Gelnhausen for almost seven years, but it was a lifetime ago.We’re thrilled you've joined us.

Do you know anyone that lives there, or did you go to college there?

My name is David Burton and I live in TN!

2) If you do owner-occupied cashout refi for best rate, you technically have to live in the home for 12 months before renting it out. * Some responders here may suggest not worrying about that and renting it out anyways.

We haven't lived in the townhouse in the last 2/5 years so we would get hit with full capital gains.

Anyone can live anywhere they want if they have the money, and sometimes houses are bought and then rented out without much background checking on the people moving in.

I live in Seaford, NY and have been searching for areas outside of LI to do my next deal.

If your able to move and live in the unit do that.  

In a lot of places, evictions are quick enough it shouldn't be an issue but I do tend to live by the motto "never underestimate how much damage a pissed off tenant can cause in just a few hours."