A lease or other written evidence to verify occupancy is required.

We were uncertain how much "supporting documentation" would be necessary as we anticipate about $25K of necessary improvements to reach "available for occupancy status". 

@Sarah Miller The following is from the Ohio law link from above:Title [53] LIII REAL PROPERTYChapter 5322: STORAGE FACILITIES5322.01 Storage facility definitions.As used in sections 5322.01 to 5322.05 of the Revised Code:(A) "Self-service storage facility" means any real property that is designed and used only for the purpose of renting or leasing individual storage space in the facility under the following conditions:(1) The occupants have access to the storage space only for the purpose of storing and removing personal property .(2) The owner does not issue a warehouse receipt, bill of lading, or other document of title, as defined in section 1301.201 of the Revised Code, for the personal property stored in the storage space"Self-service storage facility" does not include any garage used principally for parking motor vehicles, any garage or storage area in a private residence, an establishment licensed pursuant to sections 915.14 to 915.24 of the Revised Code, or any property of a bank or savings and loan association that contains vaults, safe deposit boxes, or other receptacles for the uses, purposes, and benefits of the bank's or savings and loan association's customers.If I'm understanding this correctly, then most of the advice above relating to Self Storage would be incorrect.

I'm Intreagued with this idea because living expenses are exuberant and if I were able to close on a deal and maintain occupancy with two other tenants my living expenses would be eliminate and I would be living for free rather than paying thousands of dollars renting someone else's home.

Owner occupant bidding ends at 1159pm ct on 6/6.My buyers agent is not real experienced (although her father is, she works for her father).  

@Lynda Allison Just a technical point--occupancy is not ownership.  

Hey BP Community,I'm dipping my toes in the apartment water so to speak, and someone brought this deal my way.Here are the numbers:$1.2 million purchaseCurrent occupancy: 58%Units: 64Average Rent Per Unit: $550 (conservative)Area occupancy average (subject property removed): 90 + %Why so many vacancies?

I want to "get out of the rat race" as they say, and I just can't keep running through my head that even only counting half of the rent at full occupancy, this one unit would match my current income level!!

That is:  a property which is intended to be sold for own-occupancy only - at least for some initial period of time.  

I will be moving out officially around the end of August and then renting it out.When should I start advertising it for rental prospects if occupancy isn't until beginning of September?