@Joseph Umberto The first property I bought was a triplex through an owner occupied loan.

Easier to do on a vacant property that you plan to put work into than on an occupied property. 

We will be owner-occupying/house-hacking it for about a year.

SFH Pros:-Great "free" leverage-Less risk-Househack (rent out or airbnb rooms)Cons:-Can't completely rent it out because it has to be owner-occupied-Slow cashflow/returnDuplex Pros:-True investment property-Can force appreciation by updating interiorCons:-Tenant recently signed a 2 year lease until mid-2022 that is below market rent-Old home, it has good bones but general contracting labor is expensive since they are in high-demandThank you in advance!

Does anyone have experience with giving tenants small gifts as a way to smooth over aggravations from unexpected renovations while tenant occupying the property?

Background so the numbers have meaning - Conservatively approved to 400k, FICO 800, clean history, 20% down payment on non owner-occupied investment property, 30 yr fixed conventional loan.

The person “owning the apartment actually owns those shares in the corporation owning the building and has a “priority” lease on the apartment they occupy that is specifically tied to those shares.The corporate by laws will state what percentage ownership must approve a conversion to condominium structure.

Getting an owner-occupied mortgage is easier than an investment property mortgage.Doing your own rehab and managing tenants on two buildings will give you & our wife a taste of real estate investing and help you figure out if you really like it or not.

Should I base my offer on the usable/occupiable square footage or the gross square footage (rentable square footage)?

Purchase price: $205,000 Cash invested: $20,000 Sale price: $425,000 Bought as a primary residence, owner-occupied interest rate.