You said you are going to live in it as a primary residence.

We both still live in Orlando and are familiar with the UCF area.

Does the residency requirement for primary housing require living in a legal unit?

@Lucas Schlund there are logically, 3 options:1) Buy Cash: PROS: You can get better prices on houses because you can close faster with motivated sellers and buy houses that need repairs to qualify for a mortgage (less buyer competition)CONS: takes the longest to save the funds2) Use Rehab Loan:PROS: Same as #1CONS: more expensive loans:---FHA 203(k): not that expensive, but must live in the property for 12 months before renting---DSR Rehab loan: relatively expensive and may need experience to qualify3) Mortgage on Property with Cosmetic Repairs:PROS: easiest & cheapest to doCONS: lots of competition, so can be hard to find a "deal"PM us if you'd like to discuss these in more detail.

Hey guys...I also live in the HD.  

I live in NYC but open to a lot of the mid-west/central markets given lower entry price.If you're looking to get started like myself, or even wants to invest together - feel free to reach out!

We are open to it being rented out or bought for an assisted living space.

No, I have not physically seen the property because I live out-of-state.

He's owned it since '76 and used to manage it himself when he lived here.

It is spring, and the tenants also mentioned the sump pump is also running some which is out of my control and should by considered in some of their living cost being that they are living on an acreage!