For a owner/occupant it might be an "okay" opportunity, but the slight discount isn't necessarily worth the time involved.

The owner himself lives in one unit and the occupants have been there for over three years, I do not think there is a question of it being habitable or passing inspection ( I will get one done).

As for the whole Raleigh and VA loan utilization, my spouse can fulfill the occupancy requirement.

Hi there! I am brand new to real estate investing and need some input from experienced "house hackers". I found a duplex REO property for $200K which can bring in a minimum of $2000/unit. The deal is also for buyers w...

I have a question for you @Joel Harriger -- are you buying this as an investor or as an owner occupant?

I always prep as soon as the guests check out, but that's because we average about 87-90% occupancy, so we're almost always doing same day turnovers.

Usually if they had to do that type of remediation the city would have issued a correction notice for interior and they would have to comply to get occupancy permit or rental license again. the cops and the city inspectors aren't stupid, along with the fire and hazmat people.. so rest assured if one of these agencies were involved they all probably were, and owner was required to comply. 

Rinse and repeat every one or two years per VA guidelines of owner-occupancy. 

Leverage is the biggest driver of profit in private equity funds, hedge funds, REITS, Investment Banking and almost all occupations of the super rich.  

They are meant for owner occupant borrowers.