Behind the magical curtain scoop for you: If a HUD DE underwriter loses their DE status, they may never be able to underwrite an FHA loan again and their income will likely go down >25%. - Because it ultimately comes down to a human underwriter's judgement call once actually in escrow, many lenders do not want to deal with it.If you want to share your owner occupancy motivations, I'd be happy to give you my ballpark opinion on the odds of it flying.

Here is one way to look up the rent control status of a specific property.Here is an outline of how to use the ZIMAS system: http://hcidla.lacity.org/RSO-Property-SearchHere is the ZIMAS system: http://zimas.lacity.org/Hope that helps some of you.

Wouldn't hurt to call him to get his idea about the current status and best way to pull permits, if necessary [note: he's a great contractor but his prices are probably too high for investor purposes].  

As for its "resilient neighbourhood" status, looks like you're trying to convince yourself of its appreciation likelihood?

I'm not certain of the status there since we dropped the idea.

Your current home, which I'm assuming is single family and that you will be turning into a rental needs reserves because of the tenant occupied status. 

If I do an extensive rehab the property should hold it for at least a  year before selling it or should I sell it immediately and be subject to all the "dealer status" taxation. 

Then on May 3rd at 3:50pm, you (Kate) wrote to me “I will reach out to the crew and check on the status of your property’s rehab.

-  What is the difference in the ownership status with me financing vs. bank?

We spoke to the lender who has had the debt for 2yrs and has it in pre foreclosure status for a year but nothing has been filled yet with county.