Updated over 5 years ago on . Most recent reply
House Hacking and Taking Over a Lease
Hypothetical/ asking for a friend question here. Say I find the perfect deal on a duplex that I want to house hack. One tenants rent covers the mortgage cost. But there are current tenants in both sides and their lease contracts for the next 6-7 months. I want to take out a FHA loan on the property and move-in in 3 months because my lease is up at that time.
In this scenario,
Because I need to move in, and live in the home for a year to take out a FHA loan and I have to keep the current lease in place, is there anyway to get around that? Or am I out of luck on the particular property?
Any feedback is very appreciated!