I actually worked with a client in Phoenix not too long ago who was in a similar boat...trying to transfer their loan to a buyer looking to use the property as a primary residence.

They also make it harder for resident owners to get financing (why?

I have money to invest and I have some experience with construction as I have worked as an electrician for 3 years, general construction for 1 year and currently doing all of the rehab for my primary residence.

Depending on if this is your primary residence or not can alter the strategy but that's the gist.

Doing my first wholesale deal in 2016, at that time there were builders buying blocks of houses from residents and doing new construction.

To support some of the challenges some residents may have that feel they conserve while others don't, you can also take the # of occupants and the square footage and come out w/a higher ratio for larger units w/more people.  

Investment Info:Single-family residence buy & hold investment.

I used a HELOC on my primary residence to purchase a long term rental investment property.

"We are sorry that we cannot continue this insurnace therefore your policy will not be renewed...Material increase in hazard as evidenced by the fact that the residence is not owner occupied as required by our policy".

On June 21, 2024 Freddie Mac got approval to purchase second mortgages on SFH occupied by primary residents.