I believe I have two options.Property Info:Purchase Price: $365,000Current Loan: $329,000Interest Rate: 5.7%Mortgage:$1900PMI:$130Insurance:$157Taxes: $320Current Rent Left: $1200 (Market $1400)Current Rent Right: Owner Occupy (Market $1800)1.

Purchase price: $55,000 Cash invested: $30,000 Purchased property was renter-occupied at $600/month at the time of purchaseDid not renew lease with tenant.Completed full Renovation at $30,000 6 days on the rental market before the property management team got a signed lease at $1200/month Renter moved in July.ARV $179,980 What made you interested in investing in this type of deal?

Is the property occupied and if so, what are the rents?

Fortunately, the tenants that were occupying the unit I am moving into decided to move out before July 1.

I have 4 identical units of property where all the units need a little work to be on top. 3 units are occupied and 2 of them are paying way below market rent.

These rules made it very challenging–-and frequently impossible–-for investors and others to operate non-owner occupied STR properties legally in Austin.

Can you rent, occupy, or utilize it in any manner?

May I suggest buying a small multifamily (2-4 units) to occupy in TX.

@Colleen Weaver - I would assume you are referring to a 5% down owner occupied loan, e.g. a house hack of sorts.

For FHA, you typically have to occupy the home, at least initially.