Purchasing a fully occupied rental
For the seasoned rental investors out there, especially in the baltimore area - I'm thinking of picking up a fourplex that's fully occupied. However, I really want to get is under an owner occupied FHA loan with 3.5% down. The house has an extra room that's separate from the other units and is unused. Do you think it's doable for me to get an FHA loan stating that i'll be staying in that room, while I try to get one of the tenants out (they're on month to month leases)? My other question is has anyone ever even tried to "get a tenant out" for the sake of you occupying the property? It seems like a total a-hole thing to do. Also, the current landlord is paying all the utilities in that property, which comes close to a grand a month. How would you guys go about telling the tenants that they're now responsible for utilities once you take ownership of the property?