There was a long time eviction moratorium, so there’s a lot of occupied units right now paying $0 a month and not moving.

4 units occupied and cash flow of $1,125 per month.

I know that in many ways, it is easier to sell a single family when it is not occupied, so that was my plan.

Just an FYI, this was a response in the tax forum from a CPA:The homeowner must actually use and occupy the home as a principal residence.

Because you occupy the residence, most local banks will give you 95% access to the line of credit.

The homeowner must actually use and occupy the home as a principal residence.

I can’t imagine underwriting is going to approve your purchase of an owner-occupied residence that you as the owner can’t occupy.  

Also (at least in my state) there are different laws for owner-occupied multi-family homes.

Hello All,

I just took over a new property and plan on living in one of the units for awhile. The current tenant was currently on a month-to-month lease agreement and I plan on keeping that the same when I move in ...

Otherwise, you might consider renting out your current property and buying the other home as your primary residence - financing an owner occupied property is much easier and requires a smaller down payment...just an idea.