If you purchase a Homepath property are you required to live in it for a certain period of time before you can use it as a rental property?

[Tony Iaconelli]

I have been looking on Homepath.com for properties, preferably duplex's for my first investment. I would like to live in one and rent the other for obvious reasons. Are you required to live in them for a certain period of time before you are able to use it as a rental?

Thanks in advance,

[Account Closed]

I believe that you must reside in the property when it is purchased in the owner occupant period for at least 1 year. If you purchase the property when it is open to investors then you do not need to live in them and can rent them both out. I just purchased a Homepath property, but it was open to investors and I do not need to live in the home. Best thing to do is read the paper work from Homepath regarding this or touch base with your agent.