Property was purchased at estimated $40,000 under market value with two long term tenants occupying the property, both with rent under market value.

Property was purchased at estimated $40,000 under market value with two long term tenants occupying the property, both with rent under market value.

This owner occupied triplex, legally discriminated against renting to families with children.The owner hired a licensed agent to represent them to rent a 2 bedroom apartment in this owner occupied triplex.  

Purchase price: $135,000 Cash invested: $27,000 purchased a duplex fully occupied in Houston TX.

The gains would be tax free to your parents, as they owner occupied it for at least 2 years out of 5 years. 

I'd be looking for my next property to owner occupy.

Another concern is, if the property is occupied (95%), it might take 6 to 18 months to let the current occupier get out the house.

I will be moving forward with getting the property occupied 02/1/22. 

@David Kelly If your cosigner is not going to also occupy, and is not a family me,her, your don payment goes to 20%.

I am looking to acquire an out of state MFR and am pondering self-managing remotely or hiring a property manager or occupying one of the units.