I'm also doing some research in this town how the rental market performed when the recession came through and what the over all occupancy rate was around that time as well as in the last five years.

Let me step off my soap-box and continue...Even if you have the legal standing to forcibly have the occupant removed, you'll likely be better off presenting yourself as someone who is on their side (to a limit) in an effort to negotiate their departure from the premises.

I am looking to invest in a multifamily property with a family member that would be an owner-occupant.  

Again these are low end properties at 100% occupancy on day one.  

Occupancy rates?

“Dwelling unit” means a structure or the part of a structure that is used as a home, residence or sleeping place by one or more persons who maintain a household, together with the common areas, land and appurtenant buildings thereto, and all housing services, privileges, furnishings and facilities supplied in connection with the use or occupancy thereof, including garage and parking facilities."

Built in the early 80s and very little to no capital improvements since then, the property currently sits at about 50% occupancy.

What I would caution is to model higher occupancy earlier on in your pro forma before you get reviews etc to get the traffic.

Definitely a big draw to seasonal/touristy type of areas, and the higher price can be passed on from you to your occupants.

Use our mobile app and our Explore feature to visually see owner occupancy, equity, foreclosures, etc for every house around you while you are driving for dollars.