Walkable to locally owned restaurants and the street had mostly owner occupied homes that are owned by long time owners.

Thanks, Bernice One approach is to break it down by looking at similar vacant retail spaces nearby and comparing price per square foot while factoring in potential rental income once occupied.

Monthly payment is 1900 with a 6.5 rate and would rent for 2500.posted in another group but realized it was the wrong one Hi Keith, Refinancing from an owner occupied loan to a non-owner occupied DSCR loan is tricky.

One is 90% occupied and the other is 100% occupied.

So it does appear to be possible to get an FHA 203k loan for a 5-unit & convert to a 4-unit.When possible, aim for the Limited (aka Streamline) 203k loan, as it's less complex, not required to get an FHA consultant, etc.Of course, this is based of the two following important assumptions:1)  zoning allows for this2)  and obviously I owner occupy for at least 12 months3)  the total purchase price + renovations are within the FHA loan limits specific to my areaWhat I'm confused about is the timeline or chronological order of the process? 

In several communities their ordinance says no more than 3 people unrealted by blood or marriage may occupy a residence. 

We maybe be able to get you an owner occupied loan faster than that. 

If you are buying from HUD, you will be contractually obligated to occupy the home for 12 months.

The property has remained 100% occupied throughout my ownership and is on track to continue receiving market rents from both tenants.

The property has remained 100% occupied throughout my ownership and is on track to continue receiving market rents from both tenants.