Looking to house hack 6+ unit building

[Jennifer Young]

Hi,

We're considering trying to buy a multi unit that's owner occupied (our primary residence) here in nyc. We're handy and we own a few properties in Baltimore so comfortable with tenants. But a few hurdles we're trying to explore here in nyc - most of the properties we're finding are 6+ units. I don't mind rent stabilized / rent control tenants but I know it can really complicate things for purchasing / landlords. We've also never had to navigate a commercial loan. We certainly do not have the capital to be all cash, we need financing. What should we know? What should we be thinking about? Who should we be talking to?

[Ryan Muska]

If it is going to be your primary, you are going to run into a lot of difficulty for financing when it comes to anything more than 4 units. 

When it comes to commercial, I'd be very surprised to see someone willing to let you live in a property you are going to buy.

If it gets done, I'd love to know who does it as it seems like a unicorn.