Is it occupied?

Conventional financing is geared and regulated for the owner occupied homeowner and is designed to protect that borrower from poor lending practices.  

The second question is, as my family is looking to occupy the property for the majority of the year, we are wondering if we need to register or seek a permit if we rent it out less than the 90 days of each year? 

The buyer requested a transfer from his job to the city where the house is but now the job wants him to start work next week, I told him we can probably let him and his family occupy the property prior to the closing date.  

The only way to ensure a reliable rental income is by having a dependable tenant occupy the property.

The stipulation with conventional and FHA loans say you intend to occupy the the house for at least a year.

In Portland for example, you cannot do STR for greater than 90 days per calendar year if you do not owner occupy the property (unless you have a property with commercial zoning).

Mixed-use zoning has been a goldmine for many of my clients, particularly those who started with owner-occupied properties and later transitioned them to full commercial use. 

Learning those things on your own property will then reduce the risk when it's time to buy a property that may not be owner occupied. 

I recently learned that if you owner occupy a residence for part of the 5 previous years before sale, and you rent it for the remaining time, you can calculate the percentage of time the property was owner-occupied (and thus qualifies for the sec. 121 primary sales tax exemption of up to $250k for single filers) vs the time it was being rented (which qualifies for 1031 exchange) and claim both benefits. https://hcsequity.com/blog/combining-1031-exchange-with-121-....How does this work for a multi-family?