It is a pretty extensive rehab on a 2 flat.

There is an extension of the argument that the IRS will never allow to happen. 

It usually takes about a year for an individual to be granted the assurance that they meet the requirements.One route is to have someone come over on a B1/B2 with an extension.

@Cathryn BurkeHi Cathryn:There are lots of different threads with extensive discussion on this subject. 

I called her again several days before the sale date and warned her it was highly unlikely she'd get another extension (you often got a sense of which ones would or wouldn't).

Hi!I was just approved to purchase my first multifamily property. I will use FHA and occupy/ manage the property. I am looking to make sure I account for all costs I will incur from loan closing to lease-up. I have se...

Since the uncertainty is high lenders structure these deals at 20 yrs amortization with 5- 7 yr terms that either convert into a balloon with the full balance due at the end of the term or at a higher rate...Your probably thinking you can get an extension before the term is out... and in some cases yes depending on rates the economy and the mood of the bank... if those factors do not align then the extension may not be available...But their is an alternative...The alternative is an alternative lender. 

When you do something like that, it communicates that the company is not a legitimate business endeavor held at arm's reach, it is an extension of you personally. 

As someone who is former tax accountant with extensive business and program management background, I assure you that there are a ton of transferable skills and educational components that I picked up from my MBA and previous experience for my current role as a syndicator. 

Others will fight you legally, delaying every action until the last second, and working with tenant groups to seek extensions and make you look like the bad guy.In short, make sure your paperwork is 100% correct, and gets filed immediately.