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. 

So for 1-2 years I'll be taking in a lower rent due to the owner occupancy requirement on the hud home.  

Oh PS don't forget to look into transient occupancy taxes where ever you're looking to eventually invest.

I've seen standards like 70 sq.ft. for the first person, 50 sq.ft. for each additional person for occupancy standards.

What do they see them selling for per unit, what is the market occupancy rate.