People who reside in property are unknown, but are not owner occupied.

We want To owner occupy a multi family property so having her income too will really help to qualify. 

The right of rescission only applies to owner-occupied property refinances - not investment properties!

A good PM knows enough people and has enough marketing tricks up their sleeves to keep the properties occupied and turnover lowOutside of that, I second Russell's suggestion.

Some people cater to visiting sport teams.Some people like to flirt with risk.....just saw a guy near me get reported for is AirBnb that he used a VA loan to buy, but never occupied it....too many parties, neighbors complained, he still didn't stop it, so they contacted Inspector General and reported him for loan fraud. 

There are also some owner-occupant sales happening, and the majority of the occupied homes are well-kept. 

It will only be problematic down the road and will limit your ability to exit to only owner occupied occupants.

Full disclosure, I am a Bank on Yourself Professional and would be happy to tell you more about it and determine if it is right for your situation.Hey Stephanie, Although rare there are HELOCs available for Non Owner Occupied investment properties(NOO), we write them all the time at Lower.com.2 points of consideration (1) Usually the Loan To Value you can borrow is slightly lower on a NOO. (2) If you do take it out on a primary you want to make sure you intend to own and occupy for 12 months

For the arbitrage part, I would check with the owner of the unit, and see if they will allow you to arbitrage the unit instead of LTR occupying it.

The residential manager acts as a defacto PM, but they occupy one of the rooms for free, so run your numbers.