Though it's improving, I cannot say that I'd pay $420k for a 4-unit that doesn't even have central air and is right by MLK. 

BP Community:I am fairly new to BP, sorry if this is a basic question.I recently listened to BP podcast episode 336 interview with @Robert Jones, and fell in love with his "owner occupied to rental" strategy of taking an owner-occupied mortgage, living in it for a year and a day while improving the home, then renting it out and moving to a new owner-occupied mortgage home.My questions are:I would like to use this strategy, but what is the minimum amount of time I could live in a home before renting it out?

Made major improvement inside the units, updated the flooring, bathroom, and kitchen cabinets as well as a fresh coat of paint inside and the exterior.

We buy, improve and hold mobile home parks around the country.

The city also wants to see more SFH's than rentals to improve the neighborhood, and give tax abatements if you make your improvements energy efficient.If we kept this multi-family, ARV would be around $200k.

SO, my idea was because I have my property type and area, to drive for deals and send out hand written letters to that area to see if there are any owners that have a free and clear property that they are looking to get rid of and explain seller financing, and use them as the bank and then do minor improvements and rent out the property.

On one hand, my homes are standing vacant so it seems like an incremental cost (utilities, cleaning), on the other it seems like a major slap in the face after they unilaterally overrode our cancellation policies and now have the gall to ask us to make further sacrifices to improve their PR. 

We have mortgages, insurance, repairs, improvements, maintenance, vendors, utilities, and of course property taxes.

The property needs a lot of capital improvements and can be purchased at a deep discount due to seller COVID panicking.

Get with people who have boldly stepped into deals that will significantly improve your financial position and learn from them.