I can't find any information on occupancy requirements prior to sale for an owner-builder in this state, though it's well-documented in some other states like Texas so I'd be surprised if no guidelines exist. 

So you likely need to involve either a consultant or developer prior to make sure you don't buy something that doesn't have a fatal flaw or constraints that make the project not pencil out financially. 

Present an Offer to Lease with your terms and conditions for the applicant to become a tenant (sign lease, pay move-in monies) by a date certain prior to 8/1. 

Renter would be in place prior to this. 

Since eligibilty is often hyper specific to a particular board, it is essential to get direct validation from that entity prior to even touring a property. 

Thanks Michael,Diligent research was undertaken prior to using the current group, but performance has declined over time, hence why I’ve requested current recommendations from people familiar with the Alabama market.Cliff

How can I verify the Opex of the property prior to submitting an offer?

As for the existing occupants/prior owners they need to go.

If the expenses associated with your STR are prior to the IN SERVICE date, then most of those expenses may need to be depreciated rather than deducted. 

Common illegal activities are involvement in drugs, subleasing the property without prior approval, illegal gaming or gambling, cockfights.Holding overA holdover tenant is someone who continues to stay in the rented property without the consent of the landlord even if the lease has already expired or has been terminated.