Buying a home that is renter occupied with a conventional FHA
Hello,
My name is Wes. I'm new to all of this and I've had a few thoughts going through my head that I was hoping you all could possibly help me with. I have been browsing some websites looking at homes and I came across a condo that is for sale for $50,000. At the moment the condo is rented out to someone. Since I haven't been saving for very long my cash is low and I'm curious if I would be able to borrow with say an FHA loan with the intention of moving in and just keep it rented after I bought it? Or would I have to move into it immediately after the purchase?