I kept that mindset too long into the higher rate environment and have recently shifted my perspective especially on refinances and here is why:1) To frame this, it is important to first consider the total cost of refinancing. 

My total debt to value on my primary is still less than 30%. 

Totally agree with Christian here.

That being said, I don't think the bank is going to be sending folks to peep through your window to confirm you live there... but you obviously still shouldn't do anything misleading, hypothetical or not :) If you have utilities or some bills in your name headed to that address, that would adequately show a proof of residence to some capacity. 

Mortgage stays in seller's name but is paid by the buyer through a promissory note (aka contract)Mortgage Balance: $102,000 Interest Rate: 4% PITI: $531/monthSELLER FINANCE PORTION: Seller Finance: $300/month to seller for 53 months (4.4 years) = $16,000 Total House Payment: $831/month (PITI + Seller Finance)NOTE about CLOSING and seller: Seller would like to remain in the house until November 12th, 2024.

Have you ever purchased a property and replaced all the systems like a total gut job, new electrical plumbing ect?   

Keep in mind many could not pay cash even if they wanted to so leverage is a must especially those starting out obviously.

Obviously this is dependent on your local area, saturation and quality of product.

They are obviously just trying to get one over on you.

The roommates have issues with this, obviously.