From the limited research I have done, based on lending to non owner occupants, it appears that there is little licensing requirements.  

For that class of property, which may very well have owner occupancy, I agree.  

I am looking at a 7 unit short sale with only one occupant and no financials (because managing partner is not cooperating with the bank).In preparing my analysis for investors/financing, I am trying to get a rough estimate for wastewater costs. 

In Texas there is no requirement for sellers to disclose: "A seller or seller's agent shall have no duty to make a disclosure or release information related to whether a deathby naturalcauses, suicide, or accident unrelated to the conditionof the property occurred on the property or whether a previous occupant had, may have had, has, or may have AIDS, HIV related illnesses, or HIV infection."

Live there 2 years, fix it up, and then keep it as your first rental and buy another house to go live in and do it again.The value of house hacking is that if you are buying the house as an owner occupant, you can get loans for much less of a down payment (3 to 5%) and the rates are better too.Plus, you'll probably find that your PITI for a home (assuming its a good deal) is far lower than what you'd be paying for rent so you'll be saving more money that can be used for your business as well.Just a snowball effect.4) Lastly, and as previously stated.

He says this is how the lenders would come to the value that they will provide up to 70% of.)Positives:Seemingly good cash flow Some room to improve occupancy while still being okay if I can't fill the last 6 plotsSeller willing to finance 75% at lower rate than non-bank lenders (I would only have 10% to put down here though so would still probably need to go with non-bank lender 70% and seller carryback 20%Included in expenses is park manager (who is Certified WW and WS operator) and office managerRealtor says fracking in the area is bringing more people who will need somewhere to live but I couldn't verify this anywhere online so I took it with a grain of saltApparent reason they are selling is because the park was inheritedConcerns:Park is 40 years old and has private sewer and water system (about 10% of expenses go to this including the manager)Park is in town with population of only 6k.

It looks attractive to me esp with mortgage rates I'm seeing.KC, from what I read, has a lot of renter, about 48% of the market, high occupancy rate. 

To make it even worse, most of the time multies will only be bought by investors, not owner-occupants, so you have a more limited pool of potential buyers to bail you out of that negative cash-flow beast.Now, with that out of the way, I'm not saying "don't do it".  

Pro-rated property taxes, pro-rated utilities, U&O (Use & Occupancy) inspection fees, deed recording fees, wire fees to pay off existing mortgages - just some other things that you might see. 

No matter how you slice it you would be violating the occupancy condition.