Owner occupied refinances technically require another 12 months of occupancy.

I saved up 8k and when my taxes come in I should have about 16k. I’m looking to buy a 3-4 family home in Dutchess county NY, or Newburgh NY. I want to make investing in real estate a business and my question is where ...

The building owner's daughter is the onsite property manger and there are at least 5 units being occupied by family members.

I occupy one and two are rentals.#1- Mortgage balance $90k, 3.3% APR, rental ($200 cash flow), 15yr mortgage#2- Mortgage balance $220k, 3.5% APR, rental ($450 cash flow), 30yr#3- Mortgage bancle $420K, 4% APR, residence, 30yrI am currently paying extra principal in all properties, should I focused on saving a 20% downpayment for another property, keep paying extra principal on all of them, focused all my resource in paying #1?

Lease agreements if the property is occupied, appraisal, 6 months reserves, minimum 640 credit score, credit lines open for at least 2 years with no bankruptcies in the last 36 months.Then there's the properties requirements which is another thing.

Is this place currently occupied?

Does that mean you're planning to occupy one room for free and rent the other bedroom for $2,500 per month? 

I would be occupying one of the units for the next 3-5 years, and would rent out the remaining 3.

Took me about 2-3 months to get it fully occupied, implemented Rubs, charged extra for pets and parking to increase the NOI.After 3 months from closing, the property was stabilized and was cash flowing.

If you owned and occupied it 2 of the last 5 years you are good.