It's a 3 bedroom/2 bathroom single family house which I had been renting out the extra rooms until Hurricane Ian flooded my neighborhood (flood zone) last month.

If I remember correctly, Hurricane Ian wiped out all earned premium for the state back to Andrew.

I'm not an attorney, nor am I an expert on mortgage rules, but here's my take...The occupancy rule is there to deter people from purchasing a house with favorable terms while having the *intent* to hold it as an investment.

@Ian Walsh  Hard money rates never change  or at least very much and usually only come down in competitive markets like California.I think homeowner loans as the rates go up  ARMS become more popular.. lenders will find a product they can keep selling.. also markets will dictate if rates move and buyers balk... and mortgage originations go in the toilet.. that usually brings mortgage rates back down.. but we will see

Ian

@Travis Shaw Like Ian, I am an investor who has done buy and hold rentals (turnkey mostly) for my own portfolio, and equity based crowdfunding, as well as private lending, joint ventures, and most recently debt crowdfunding.    

Following Hurricane Ian, insurance rates are predicted to go up by 20%-40% in the next year.Over four years later, we're still recovering from Hurricane Michael, a Cat 5 that is the fourth strongest recorded storm to ever hit the U.S. 

Originally posted by @Ian Kurela:There's a lot of factors that go into it I am sure you know.

Originally posted by @Ian Whitney:If you're looking to build a large portfolio, look for capital appreciation plays so you can build equity fast and 1031 into more/larger deals. 

Not only am I an investor but I'm also a full time Realtor serving the Central Florida area.