Question regarding being an owner occupier

[Ben Terribile]

Hello all! My first post...

So I’m looking at a 3 family just down the road from me. Won’t have enough for a hefty down payment so it looks like our only option is going to be an owner-occupier. Do you folks know the general rules on that? A certain timeframe?

Also, how does the lender keep tabs on whether you live there or not? Thanks for any info you may have, I’ve been reading my *** off and getting really excited about getting into real estate, but we could get a couple hundred dollars a month more for the units than I’d like to pay for rent myself.

Cheers, and happy New Years!