I just want to know how this can be done in a nice legal way without any complications.

Does anybody know how long I need to occupy the unit before I can legally leave and rent all of the units out?

The terms were much better through the credit union, 1% lower interest rate, 30 year term, 75% LTV. the advantage to the federal loans is the ability to take out non-recourse debt, but for us the other perks outweighed that value.

Now if you think expenses will be 35-40% that cap rate changes so it's tough for me to say exactly, but for me I would want a proforma cap rate north of a 7% on a 4.75% debt rate, but its different for everyone.You're best bet is commercial brokers in the area for cap rate reserch, but they're going to be talking cap rates on probably 10+ units if not 30/50+ units.

Is this legal?

In short, I'd prefer to see some marketable skills on top of just finding a deal, such as construction skills, financial skills, or legal skills.

depends on tenant age, maturity and previous home ownership history. pellet stoves generally very safe 98% shut off with no electricity so not great safety net in grid down storm. and flame isnt open to being touched and can be controlled with thermostat   but as with everything from tub, pool, gym, ensure they sign legal form, require renters insurance, get your agent to include it and have lawyer draft a memo and add basic training every heating season. i am looking switch over my oil to pellet wood boiler fed by auger but its auto feed system in basement.  

@Dirk Jackson Is it because you are over your debt ratio?

Do not rely on it for legal advice.

The lodging tax + the ancillary expenses on top of debt service in comparison to a long term rental was too close for me to justify the time keeping it as an STR.