Hello,I own a owner occupied three family homeand contemplating on whether to sell or hold due to a recent job change out of state.

In the process of taking out HELOC on an out of state, none owner occupied house with Pen Fed. 

Upstair is occupied and paying $1k.

Reason being our exorbitant taxes on non-owner occupied properties.

Some companies that we use will allow for a short vacancy on a new rental (but have it in writing from the agent that the company is aware of it and the time frame that the bldg. must be occupied by.

Hi @Jock Tilghman another important consideration is how you plan to pay for the property - for example, will you owner occupy by living in one unit? 

12 months … if its a mfh you can rent it out after closing as long as you occupy one of the units

.- Went from 9/12 units occupied, mom and pop managed and  all well under market rents and most not paying on time.

Right now my lease states:“The premises shall be occupied only by the persons named in this lease, or subsequently approved by Lessor in writing.

@Ernes Sahic, just wanted to add Freddie Mac's Home Possible loan program which allows 5% down on an owner occupied duplex.