With the property needing lots of work, I provided a solution to the owner.

With the property needing lots of work, I provided a solution to the owner.

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? 

buy house  find renter rent house maintain house pray they pay rent and dont destroy it.

I saw this ad for sale by owner.

Tenant issues are more likely to arise and then you have the owner....many aren't qualified expertise wise or financially to weather the storm.

Focus on absentee owners and start with the ones who live the farthest away and only own one property in the area since they have the least use for the property.You can also drive for dollars, looking for anomalies of disrepair and then look them up in the tax records and use a site like Spokeo to do cheap skip tracing.

The original owner on the title is her sister (my aunt), and my mother’s husband (not my biological father) is also listed on the title.

Hi everyone! My name is Monty, and I’m based in Freeport, Florida. I’m looking to invest in nearby areas, focusing on fix-and-flip projects and new ground-up construction. With 30 years of residential construction exp...

Where the owner doesn't have enough storage space, so it won't be short-term parking.