SInce the buyer will have to qualify for any non-owner occupied seller (if it is) the best way would be a strainght assumption and carry the second.

This means that if you were buying a quad and the tenant-occupied units rented for $2,000/mo, we would give you $4,500/mo additional qualifying income on your loan application ($2,000 x 3 units x 75% = $4,500/mo net rent). 

If the property is not occupied for 6 months out of the year, (and you will have to prove that) then you will have to pay $3,000.

Us, walking the occupied unit: "Why didn't you inform us about the water leaking from the 2nd level toilet into the downstairs bathroom?"

You can add more veterans to add more units but they may not want to tie up their entitlement into this venture unless it brings in some major profits, or else they can go acquire their own owner occupied 4 unit & make their own profits.I'd love to brainstorm more about this idea with you if you're still pondering it yourself!

I am trying to owner occupy one of the units and live in it for 2 years, but Im not sure on the rules after the 24 months of owner occupancy period is over. 

Just from the two occupied units, his mortgage would be covered.

Home in question: https://www.zillow.com/homedetails/120-Ramon-Cardenas-Dr-Del...Background:I'm closing on a 4-plex in a couple weeks that I will owner-occupy. 471500 purchase price using 0% down VA loan.

Even with conservative assumptions the deal seems to pencil nicely.Here's the catch - the house is being sold as part of a 4-property portfolio (the properties are in differing parts of the city) and it is occupied by a "PHA tenant" (I believe this means the tenant is backed by the city's affordable housing program).I'm wondering if there's any sense in still making this deal.

Fannie Mae's guidelines verbatim are as follows:Must be occupied by the borrower for some portion of the yearMust be suitable for year round occupancyBorrower must have exclusive control over the propertyMust not be rental property or a timeshare arrangement (this has the following disclaimer in the guidelines:  If the lender identifies rental income from the property, the loan is eligible for delivery as a second home as long as the income is not used for qualifying purposes, and all other requirements for second homes are met (including the occupancy requirement above).Cannot be subject to any agreements that give a management firm control over the OCCUPANCY of the propertyThis means that as long as you intend to occupy the property some portion of the year, you could absolutely rent it while you are not using it.