2 questions in one post

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Hello I have 2 questions that I need assistance with.

A duplex in the neighborhood that I grew up in was just listed for 259k. No duplexes In that's area yet alone SFh are listed or sold at that price. Even the Zillow value is listed at 186k- 209k is this something you would make a realistic offer in (200-210k) or wait it out so the owner can come back to his senses? The numbers do not work at his asking price.

Can you get approved for a home under the FHA loan if all units are occupied? I am aware that you must live in one of the units, but can the lender still approve it under the impression that one of the current tenants will move out once their lease ends? If so do you recommend I find out before even making an offer or just wait until we get it under contract?

Thank you,

Juan A

You can get an FHA loan if the entire building is occupied so long as you have an agreement from one of the tennants that they will be vacating the property when their lease expires or you could offer to break their lease now and help pay for their move to get in sooner.

As for the first question the owner needs to come back to reality on the price so what you need to do is find a price that works for your investment needs and put in an offer at that price. That is really all you can do on that note. You can sweeten the deal and find out if the landlord is partial to one of the tennants and allow them to stay for another year minimum or something like that.