If I'm going to buy a house retail then I might as well get it off the MLS and get a rehab job targeted at an owner occupant.

We have not had any contact with the occupant but based on research believe it to be the previous owner that was foreclosed on.

From what I understand, FHA requires owner occupation.

Owner-occupancy rules may also vary depending on lender -- but I had to transfer cities for work within a few months of purchase, and the lender had no problems with that.

Also you probably need a Certificate of Occupancy, so building department would be getting involved anyway.

Just looking for any do's and don't's when it comes to owner occupancy landlording.

These are some of the corresponding emails between the agent and the sellerFrom: Peter RiveraRole: AgentHi Denise, Attached is the Letter of Intent that I just received from the occupants.

But either way, whether you are buying it as an investor or an owner occupant, you shouldn't overpay and if you've put together your numbers along with research and come up with your highest and best, then that's that.

Is it a bad idea or even legal to cash out refinance on a owner occupant and then move out soon after?

You would not give a company right to occupancy and you would not want them to lease the condo because they could put anyone in there.