Just like Scott elegantly presents it in his reference article, the house hacking rehab loan for owner occupants is an expressway to get in the game by seriously limiting your risk and exposure while providing you the opportunity to learn all the ropes of the game hands-on.

She had 75% occupancy with 50% paying.

Occupancy numbers can be an issue if you have low recharge rates.Also consider if electric is out you have no water. 

Here are the numbers I have from the seller:22 2 BR, 2 1 BR with 2 vacant needing rehab2 BR are at $495/m and 1 BR at 445/m currently100% occupancy would be $11,780/m or $141,360/yrExpenses:Garbage - $1356.80/m - $16,281.60/yrWater - $2800/m - $33,600/yr (I would most likely stop paying this and pass to tenants if bought)Taxes - $10,700/yrIns - $8660.64/yrVacancy 10% - $14,136/yrProp Mgmt 7% - $9895.20/yrNet Cap is 5% at a higher asking price of about a million; I am told I can get it for closer to $700k prior to listingAfter upgrades and increased rents to $850/2br and $650/1br, GMI increases to $20,000/m or $240,000/yrI've checked the rent comps and they seem accurate, but I also don't know where someone might fudge a little. 

I am interested in buying a bank owned property in Mercer County NJ but it has occupant?

Our equity would be $1M in each and total purchase price we're looking at for each is in the ~$3M range.Our cash-on-cash return criteria is 10% after year 1 (after raising below market rents and increasing occupancy).

I lived in three different ones over the years, financed as owner occupant, which is the best financing you'll ever get.  

Hey John,You could move and owner occupant is much less down.You could find seller financing. 

Then use an FHA to buy another duplex or quadplex.Thanks Occupancy fraud, where you lie about occupancy intent to get the lower down payment better interest rate options that only owner occupants get, is by far the most common type of mortgage fraud.

On the application we require the name of the pet, the breed, the size, information about shots, etc. you are approving another occupant, so you better be comfortable with the history of that occupant.