Updated almost 10 years ago on . Most recent reply
I would have to come out of pocket on Owner Occupy duplex
Hello,
I've ran across a duplex at $145,000. I was able to get the owner to come down to $129,900. Rents are $800, and I would occupy the other unit. Monthly mortgage will run about $1100, which leaves me $300 out of pocket. My goal was to live rent free, but I haven't ran across a property in the last 3 months, that qualified for FHA which would allow so. Once I move out I would cash, although it won't quite follow the 50% rule. Does it make sense to move forward?