We plan to live in the house during the renovation, so we will be inhabitants, but the message I keep getting is you need cash.

I was just wondering if this strategy could be used to buy inhabitable/distressed properties quickly and cheap using a LOC as cash and use the rest of the LOC for rehab if needed. 

My favorite part of this whole process is recreating what sometimes is an inhabitable dwelling to a clean functional home which I am proud to own and have my tenants live in.

Mattaniah, I assume you plan to purchase the property via a FHA loan which would require you to inhabit the property upon purchase?

Learning day by day... how to be a better steward of what I've been blessed with... and hopefully, with the help of this site and it's inhabitants...

I recently bought an inhabitable investment property and we bought it knowing that it needs some brick work and tuckpointing that will cost $12,000 to complete.

I love the aspect of distressed properties  of working some magic to make a home go from ugly and inhabitable, to a place where a family would want to live. 

(Certificate of Occupancy) up to code for inhabitability. 

. - I have driven for dollars on properties that seem old, distressed and vacant, though do not show that they are uninhabited in the deeds and are not in my ListSource list ... all of my ListSource properties [thus far] were either inhabited or seemed inhabited, although it may be that I did my run on SaturdayThank You,Patrick

And if that is the case and this area is that far gone then well there probably is no hope then is there .. for the neighborhood or the people that inhabit it is that the point of all of this...