Our region presents distinct opportunities and challenges, and by tapping into this local knowledge, low vacancy, high demand, high rent, etc, you can strategically position yourself for maximum returns.Even with your lease not expiring until October, owner-occupant financing is a game-changer for those considering house hacking.

It is written into all of our Leases that we will be doing quarterly (sometimes monthly) inspections.Our managers go around with a list to make sure smoke/carbon detectors are working, fire extinguishers are filled and the place is not potentially attracting vermin.We will also make a note of any damage or take pictures of potential Lease violations (smoking in the house, pets, more beds than occupants allowed, etc). 

Are you buying this house as an "investor" or as an "owner occupant"?

I googled some of the HMLs in FL, and it is just a different world down there, not focused on 6-9 mth rehab loans but more on income-producing property and allowing for terms out to 5 yrs (and oftentimes catering to non-prime owner/occupants as well).

They all produce the same occupancy rate.

The 73% occupancy will be a finance challenge but it is still in the range of what most banks are comfortable with.  

In this market, you should be looking at strong markets, value add opportunities and B/C properties that poses much better downside risk protection in any market (vs Class A new which is more subject to layoffs impacting occupancies - see Houston data).  

Hi Jenny,There are lots of ways to acquire properties without banks, but it sounds like your strategy of occupying properties is to take advantage of owner occupant financing from those very same banks.  

This was a ton of work and luckily we are both pretty well versed in such things.Because we did almost all of the work on this ourselves, carefully sourced the labor for those things we needed help on and purchased materials in the most penny pinching method you can imagine, our total rehab costs were $14,568.36 making our total investment $27,729.26.This was a very tough neighborhood but one that did have a good number of owner/occupants scattered among a fair number of renters.

I usually included the basic details like address, #beds, #baths, sqft, age and occupancy, ARV, estimated repairs and my wholesale price.