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Private Lending & Conventional Mortgage Advice

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Josh Kellum
  • Real Estate Investor
  • Winston Salem, NC
10
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39
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Do I REALLY have to owner occupy a multi family unit

Josh Kellum
  • Real Estate Investor
  • Winston Salem, NC
Posted May 21 2015, 11:13

I'm interested in investing in a 2-3 unit residence. As I do not have the funds, I have been interested in applying for an FHA loan to purchase this. I am starting my own family and am currently locked into a 14 month lease (wife, newborn daughter, two large dogs) and would not want to live on the property. Could I use one unit as "an office space" for myself and rent out the remainder of the units to cover mortgage costs or do I literally have to occupy?

Any helpful feedback would be appreciative!

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