The house is already occupied by a tenant and is on lease until April next year.

I put an offer in on the rental I currently occupy, but came in under where my landlord (and 1 partner in this property) were looking at to even entertain giving up a cash flowing property. - He bought this 4br/2ba for 285k put 20k +/- in and I rent for 2700.

The building is fully occupied, needs little work and cash-flows really well.I don't have the cash down payment to close on it currently.

The issue is that if you are not licensed (if no NMLS number= no license) you cannot by law do an owner occupied loan therefore you do not know that the credit report means nothing when it comes to actual debt.

It's currently owner occupied so not much to comp there either 

There are so many mom & pops who do manual rent collection, and whose goal is to stay at 100% physically occupied!

@David Neubauer - I'd recommend an owner occupied flip.

HOAs can also put restrictions on rentals such as the percent of rentals vs. owner occupied.  

Bettendorf is mostly owner occupied and newer than Davenport, so that rule also applies to most of it as well.

The office is occupied by a long term very secure tenant and the 63,000 sq ft area had a tenant leave.