Are you thinking of buying it as an owner occupied dwelling?

Additionally you can find things like lots with multiple homes on them or a property with an accessory dwelling unit over a garage for extra income.Are you willing/able to move to SLC or Provo anywhere in between?

Now normally Return On Investment (ROI) is my primary concern when looking at multi-dwellings.

To refinance existing indebtedness and rehabilitate such a dwelling.

I have an equity partner who is willing to put up the capital if I just manage it...then we both split equity & earnings after his 10% required return.All I've had to this point is residential single dwellings....taking a known calculated risk with this 8 plex but I'm up for the challenge.

if the property is vacant, a homeowners policy vs a dwelling policy isnt going to make a difference.

I put a roof on the house and a new sewer line (about another $3,000), and carried the note to the tenant for $400 a month for 30 years.Both of these houses were in border line war zone areas.As for multi-dwellings the lowest I've gotten down to is $7,000 per unit.

When the inspector comes in for a dwelling a permit and see's new outlets, switches, walls with outlets, all of that was done before I ever purchased that property.

If the insurance is not escrowed with payments, just cancel the old, and get a new, as described above.As long as the asset/colllateral for the mortgage is insured, the lender is protected, they don't care what company you use, or who holds the title, especially if its in a trust.As long as the house is insured, payments are current, you'll have no issues.Sadly, many people THINK changing insurance causes issues with the lender and the title change.However, after YEARS of subject to investing myself, as well as thousands of discussions about this method, I have yet to have a single person back up that claim with proof.Besides, bottom line, at the moment, lenders have other issues more pressing than messing with a PERFORMING account/loan.When you get new insurance, make sure its fire and hazard, and includes liability, rental dwelling/non-owner occupied.

In fact, in year twenty, you would be depreciating the original basis in the dwelling structure, plus any five year property that had been replaced in the previous four years, plus any 15 year property that might have needed replacement in the prior 14 years.