he'll just need an addendum and all contract documents to state he has the ability to move in within the 60 days.The risk if it's tenant occupied is he might have to evict if he legally purchases and the tenant does not vacate.75 days move in wont work I'd stretch out the escrow by burning time till you're within 60 days or restructure the contract:

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

Notice on a month to month non owner occupied property is 1 day outside of 60 in NJ, and should be in writing.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.Download BP’s newest book here some good due diligence in Chapter 10.

All the properties I've done I targeted to have 80% ARV (or better) after renovation, where I only look at non-owner occupied at 70%.I am not a tax adviser and this is not advice, but the primary reason we went this route is that if you live in the property for 2 of the last 5 years you can get a tax exemption on the capital gains.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.Download BP’s newest book here some good due diligence in Chapter 10.

From what I understand, a 4 unit can be purchased as an owner occupied...

Maybe you occupy XX space and then rehab the rest over time and lease it out or expand your business as needed. 

Keep reading and learning, you may find that your rent-to own plan is a great one, or you may find that you can actually qualify for an owner-occupied mortgage after all. 

Now it's fully occupied by 2 college students and a young professional.