Ask the lender to build in the carry cost so you do not have to come out of pocket during this period. 

A 14-day is non-curable notice that can be given only AFTER  a 5-day has been issued in the same 12 month period. 

If the original lease is still in the original period, you'll have to wait until it expires. 

I've read some don't even care or have seasoning periods, they will lend as soon as it's completely leased. 

Property Acquired in 45 Day Period.

In the HUD LBP addendum, there's an inspection contingency that reads:The Purchaser has a contingency period that expires fifteen (15) calendar days from the date the contract is accepted by HUD to conduct at the Purchaser's expense, an independent lead-based paint inspection visual assessment for deteriorated paint or risk assessment. 

We did not supplement rental income for investors during that period strictly over an economic downturn.  

I can't say for sure because I don't know precisely what your intentions are.First, don't think for a minute that you'll get owner-occupied federally insured funds unless your friend lives there, period. 

Hey @Andy ZorychtaI think your idea of owning SFRs in the area is a great one, but I would like to echo what @Connor Flaat said about the rental length periods.

The study also showed a need for 18 to 28 large condominiums or for-sale apartments per year over the same period.