We are not first time home buyers but have three single family homes ( rental) properties in California but want to buy our first apartment complex out of state for generating  cash flow for the long term.

Great house in a great neighborhood, so as long as the tenants keep it up, we're friendly with the rates. 

I couldn't tell you the last time I stayed in a hotel.

I have active SFH long term rentals in the area. 

Hi Mateo,The ideal would be to use cash and then do a cash out refinance into a long term mortgage. 

We're looking for buy-and-hold long term rental properties that need minimal rehab work to be rent-ready.If anyone has any banking recommendations in Michigan I'd love to hear them.

There's nothing preventing the former owner from qualifying as the prospective owner-occupant as long as they meet the strict guidelines for being a prospective owner-occupant as set forth in Civil Code 2924m(a)(1). 

If you house hack as a Live-In landlord however, then you can live in any house, anywhere as long as it has a lot of bedrooms.

Hi Lawrence, Here's my short advice check Due Diligence, Understand Owner Financing Terms, Seek Professional Guidance, Market Research, Financial Analysis, Risk Management, Long-Term Vision.

Over the long run they save a boatload of interest by making that payment September 1st instead of October 1st.