#2 - Larger 5-bedroom renovation into a sweet rental home Before Pictures (Zillow Link)After Pictures (Airbnb Link)These investors took something that was very boring and extremely residential-looking and transformed it into a cozy retreat for travelers with highlights being adding wood paneling, kitchen renovation, new furniture throughout, beautiful outdoor space with added hot tub and fire pit spaces for guests to hangout and an exciting game room space to occupy guests for hours. 

I would offer 90% of the market value. if he sells it you with no agents he is saving 6%~ on real estate agent commission and the other 4% is a convenience fee in that he dos not have to endure showings etc. and you will get better pricing on a non-owner occupied property if you put down 25% is compared to 20%.  

This is owner occupied right?

Many times you will buy a property that is occupied and it takes time to make the units vacant and it takes time to do rehab work and that leaves little time to save money for the next down payment. 2.

When selling properties occupied it's a challenging task because your buyer pool is so limited to just investors.

A few months later, we received a notice from the lender stating that we no longer had home insurance and needed to secure coverage within a certain number of days.As it turns out, our original home insurance was canceled because it required the property to be owner-occupied.

Leveraging an owner occupied loan, putting as little as 5% down with a conventional mortgage (I have lenders that will offer NO pmi as well) and buying a multi family will fast track your REI journey. 

I did have okay rental income when they were all occupied but definitely could have done better.

https://www.amazon.com/Building-Occupying-Selling-Homes-Lega...

This was my first tenant occupied visit and my second ever property visit.