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Since when? FHA won't allow you to have an FHA loan on a rental and try to buy a new with FHA, the rental has to be sold/refinanced out of an FHA loan. There is exceptions but those are rare. The only limit the FHA has is the owner must occupy for the first 12 months.
If their rules have changed or I'm not remembering correctly from the last time I looked at them please share a link. I've never had an FHA loan so who knows.
We had a FHA loan in the mid 1980s with tenants in the property at the same time. They did not seem to have any issues with it. That was a Tri-plex, we had a 2bdrm home and it had two other units.
Currently I have two studio-loft type apartments of 1,600 sq ft each renting for $700/month. I will have ten small single occupancy efficiencies that will be ready to occupy in June, they will be renting for $300/month.
Our son's in-laws rent an un-attached house with 2 bdrm and 1 1/2 bath for $450/month.
Air BnB seems to be having a major effect on rental housing availability. A property owner in a tourist area can make more money with less headache.
No kidding. Our move here in 2015 coincided with a travel magazine competiton where this area and Tennessee were the top contenders for best new area or something. I think that may have had something to do with it. Seems everywhere I end up moving is the new 'discovered' area of the time...
Is that the going rate there? They get $675-800 for a 2 bedroom here.
wow..that's cheap! You can't touch a decent 2bd in this area for less than 1200..nicer areas go for 13-1400.
with rent that cheap I have to wonder what the average salary is..cheap rent usually means lower paying jobs..I could be wrong though
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