Michael HeisterkampIf you plan to finance as an owner occupant you will have to live in them for more than 4-5 months.

Define "guest" and how long they stay.list all occupants including children and relativesIn MD and possibly other states, and additional moneys due under lease are "Due as additional rent" - this allows you to go to rent court for fines.pet policy - what happens when they get a pet after moving in?

My mentor encouraged me to look into owner-occupancy financing as an option.

They renovate clean it up put tenants in, and then within four to six month of occupancy and history, they go to the bank and refinance it and get all their money back.

Both markets have been great, but inventory is definitely thinning out.I like Cleveland because I can still find 15 caps and better, and it's a good rental market with well run buildings easily running at 90%+ occupancy.

But I'm comfortable that with a 93% occupancy average, I will still come out ahead at $550 a month on the cash flow.$350 might be a little on the low end so depending on the house type (built in 90's yes, built in 50's no), the equity capture, etc, I might pass on $350 or I might say yes to $350.But I just think that a buy and hold investor needs to be most concerned with cash flow and this should give you a solid way to compare apples to apples.Here's one example of a deal I just closed on two months ago that isn't really a great house but it is a great cash flow house.3/2 ,1450 sq ft but a much older home (50's).

Higher occupancy due to the close proximity to Wilmington.

Sorry, can't help with the occupancy question.

If its a 4 unit or less property and you are moving in to it, then yes, you may be able to get into the home with less than 20% as owner occupant properties tend to require less down payment than investor property loans.I believe that the fannie mae properties would allow fannie mae to do a loan for less than the normal down payment.

Here is the number and scenario.Purchase price: $255,000Unit : 7 units Bedroom: 5 ( 2 Bedroom) and 2 ( 1 bedroom)Occupancy: 6 out of 7 in the last 6 monthsIncome: $55,200Total Expenses $21,657Expenses as % of GOI 39%According to the local lender, 80% of the appraisal or 205,000 for a first loan. they are comfortable that seller carry second as soon as 1st and 2nd does not exceedi 95% of the value.Seller agreed to carry 45k for 36 month @ 9%.