Owner occupied?

It's more straight forward to replace faucets, sinks, light fixtures, etc, all of which can typically be done without a permit.Only homeowners working on their own owner-occupied home are excepted from the requirement that a permit be pulled by a licensed builder - but even then the homeowner *does* have to pull the required permit.

There were over 60 units vacant for some time and were only able to unload half at a public auction, leaving another 30 units vacant.I bought one unit for my sister as an owner occupied unit with her bidding at the auction.

One is 140 units and 68% occupied, built in 1972.

Needs some general thoughts and inputs on this deal: 12-unit apartment all 1Bed/1Bath, 2 buildings (within the same complex), built 1965 and 1974, listed in April 2024, listing shows it is 100% occupied, but found some recent listing for rent for some of the units for $595/month. 

Did you get an owner occupied loan on this property with the intent of renting it out?

Typically, when we close with a conventional lender there is paperwork we sign that states we intend to occupy the house for at least a year.  

Even if you need to sell and not complete the rehab on unit #2 due to cost having unit #1 occupied at full market rent likely will increase your market value.

It's a lifestyle for them, not something they pick up in their off time and leave off easily when there's something else to do that occupies their interest.

I am now re-evaluating if I should even sell, although I have enough equity to get debt free and buy another property as an owner occupied and create a rental like I did here if I sell.