Once you have moved out, you no longer will get owner occupied rates!

Now assume each unit is occupied by 1 person.

When there's tenants already occupying the property, there's often times different leases that were signed among the tenants.Additionally, renting by room usually sees higher tenant turnover which in turn causes more work for the PM.Other challenges to consider:- Disputes/conflicts among tenants (different personalities if a tenant doesn't know the others prior)- Occupancy limits- Splitting utilities (what if someone uses more water?)

I have an occupied rental i am trying to off to fund a renovation if anyone is interested-1072 bellows!

I believe in Texas its 6 months if they never occupied the property and a year if they did occupy the property.

Purchase price: $1,000,000 Ravine ApartmentsWe purchased, Silvertree Apartments in 2022 which was a run down 20% occupied apartment complex that was an eye sore for the city of Silverton (suburb of Cincinnati).

Most credit unions do not help with non-owner occupied properties. 

Is buying a new owner occupied 2-4 unit multifamily property every year using 3-5% down payments a good strategy to scale?

For an owner-occupied property with 5% down, consider a conventional loan with a renovation option like Fannie Mae  or Freddie Mac.

We actually keep marketing your property and accepting back up applicants until your property is actually occupied.