(The previous limit was 10%)No more than 50%** of the units can be investor owned / rentals **10/26/2016 update – There is an exception to this rule, which reduces the required owner occupancy to 35%.

Obtain signatures of the tenants that if you buy the property, and pay them X dollars, they'll give up occupancy and get out.

Current tenants have never had rent raised.Leases:Unit 3: One year; expires August 31, 2017Unit 4: (did not scan; at home; will send this evening; pretty sure 1 yr lease ending summer/fall 2017.)Unit 5: 6 month, expires June 30, 2017 (just renewed)Unit 6: 6 month; expires May 31, 2017All rented.Asking price $135K2016 (est) Repairs: $1,100Improvements: $1500Rental income: $18,000Annual recurring expensesWater $840Trash $912Snow/Lawn $750Property Tax $2,700Insurance $2,100Rent (@ 100% occupancy)Units 1 and 2: $12,360($515*12)*2Units 3 and 4: $12,600($525*12)*2Total rental income at 100%: $24,960Improvements to units 3 and 4Roof 4 yrs oldNew toiletsHot water heaters 4 yrs oldFoundation drain installed both units 3 yrs ago; warrantied for life; transferableNew rugs; walls paintedImprovements to units 2Foundation drain installed unit 3 summer 2016; warrantied for life; transferableNew carpets and paintImprovements to units 1 and 2New roof scheduled for mid-January.I would appreciate any thoughts.Bill

By being owner occupant it allows you to use that loan product.Your calculations assume a 4.5% conventional loan up front?

If you are an owner occupant and go with a conventional loan, 10-15% down should be possible.

As an owner occupant, should my brother expect that banks will give me the typical 90% or even 95% LTV HELOC?

Could I conceivably be put on the title in order to be an owner occupant, live there, and jointly get a HELOC? 

Is there a specific percent you can write off and still be considered owner occupant ??

Always ask for a T12 to learn about occupancy, collected rents, etc. as well as real numbers for repairs.

@Ryan Keenan are you referring to strictly owner occupant loans?