I came out of the deal with 15k in equity but in the process I ran into a lot of unforseen issues that resulted in me maxing out my credit cards just to obtain the occupancy permit and to start prepping the house for resale.  

I was looking at listings on Zillow to get a feel for an area, and I saw this one come up:http://www.zillow.com/homedetails/7801-Saint-Fabia...Depending on how much work it needs, it may be a great deal (Rents go for 1100-1400 in that area), but I notice this in the description:"ONLY OWNER OCCUPANTS SINCE THIS IS AN APPROVED NSO SHORT SALE."

.$450,000 asking price3.9% cap rate2,398 square feet buildingGarden low rise100 percent occupancy with rents ranging from 650 to 750 NOI: 17,550New roof and new hvac systems heating and ac Is this a good investment guys?

(A single house, rented per room /w shared kitchen/bath) Typically D or C occupants.

Also, you might need a certificate of occupancy to be able to rent out to a paying "tenant".As a landlord, you also have a duty to make sure your dwelling is safe.

Another consideration is make sure you're not violating your owner occupant loan requirements, since you wouldn't be living there the first full year.As for the flipping option, there are plenty of cash heavy rehabbers working the Welly market, so that would be tough to compete with.

They're definitely willing to help outJust like any other industry/occupation, REI has its plusses and minuses.

Hello Biggerpockets community, I have recently put a triplex under contract that very well may be my first persona property. The property is a 2,400 sf Triplex located in Springfield, MO. The site is in a phenomenal l...

But the first thing is to determine the root cause of the building's current occupancy status.

Getting rid of the stoves remedied the fire risk, heavy duty cooking and cleaning.6) Room are single occupancy only.