In California, a tenant is considered an “at will” tenant if ALL of the following conditions are met: (a) the individual occupies a property, or room within the property, with the owner, (b) there is no agreement for the occupancy to be for a specified period of time; AND (c) the individual occupying the property is not paying, and never has paid, any rent.

Full background checks.IDs, names of all people to occupy house.All move in money received, no personal checkslease signed by All.Walk through inspection completed and signed.

Many of them have restrictions that you must owner-occupy the property for a minimum number of years - or you'll have to pay it back with interest.Also, the standard mortgage requires you to owner-occupy a property for a minimum of 12 months before renting it out.

It's not like a REO auction or tenant occupied property. 

First mortgages involves loss mitigation (occupied 1st) and asset management (vacant 1st).

What we typically do during this time of year on our owner occupied non performing loans is not perform any legal actions between thanksgiving and christmas. 

Well I have seen this come into play - I had someone who has a note in florida that was a non-owner occupied loan and the lender claims the borrower failed to make payments on this and attempted to record the deed in lieu.

Conventional non-owner occupied loan. 20% down.What was the outcome?

The triplex we bought was fully occupied so we did 1 unit at a time as they moved out.0 Vote  That's great - Are you going to continue with cosmetic rehabs or dive into something that needs a little mjore TLC?

Do you want to occupy it a couple weeks a year?