Once you close on the loan and finish repairs you can refinance the property but you do not have to wait to put in renters is the work is completed.If you were to buy a primary home using FHA the guide lines state you must occupy the home within 60-90 days and for a 12 month period. 

Fortunately, I was occupying the property at the time and knew the trades so was able to cut some costs.

Tenant PoolThe only way to consistently make money is to keep the property occupied by what I call a good tenant, who:Has stable employment in a market segment that is very likely to be stable or improve over timeHas a credit history with which you can evaluate the likelihood that they will performPays all the rent on scheduleTakes care of the propertyDoes not cause problems with neighborsDoes not engage in illegal activities while on the propertyStays for many yearsGood tenants are the exception, not the norm.

They are also successful at keeping properties occupied long-term with rental increases.Make sure you reach out to local landlords and feel free to send me a message here on BP if you have other questions.  

In this market, you may have luck with listing the property tenant occupied and still getting a handful of interested buyers.

If that's the case, the property would be considered an owner occupied property and not an investment property from a value standpoint which means a CAP rate won't apply in this circumstance. 

If you are looking to owner occupy a duplex you'll have to use FHA to take advantage of the low down payment. 

For the most part, foreclosure & eviction moratoria have gone away and it's mostly business as usual for us.Exceptions:Cook County, Illinois is still not setting foreclosure sales for occupied properties.

FHA loan is for owner occupied and you need to live there for a year. 

(only way to get relocation assistance is if the property is owner occupied if its vacant they won't get anything)Q:Should I pull Title before listing the property?