I can guarantee that if the seller is motivated enough to accept ZERO down, there is likely a ton of deferred maintenance just waiting to be discovered after closing.It's unclear whether the property is currently occupied.

Hey all, I recently purchased my first owner occupied duplex and inherited the tenants the other side.

We intended to buy & hold, but got burned by a newer rule in Berkeley that prevents any owner-occupied properties from being turned into rentals.

You should look into an FHA loan for your next property If you plan on owner occupying.

Assuming you are owner occupying, have you brought up the high expense with your tenants to see if they noticed a leak or have been doing anything differently?

(collections in August are at 100% of occupied unit, and 1 unit is on the mls) Lessons learned?

Hello BP Friends,I  just closed on my first multifamily property (out of state) and one of the units is currently occupied with a month-to-month tenant.

it was my understanding you just had to occupy the home once or twice a year and could rent it out the rest.

I really don’t think it would sell for that especially now that it’s tenant occupied. 

Additionally, if you buy a multi, you could use the anticipated income from the units you will not be occupying to help you qualify for more home.