I was approached yesterday by the owner of a duplex directly adjacent to my property about buying the duplex. I've been thinking(and originally purchased my current house) about obtaining three or four four rental units, not as income property per se, but as a long term investment. Anyways, she's willing to deal on the price, but won't carry the paper, my credit is gold and I can easily get the $, only hitch is I have to live in the duplex for at least a year to get owner occupied financing. Long story short, should I do it or let this one pass by? I really on't need the extra payment, but in a duplex(assuming I can rent my home fairly quickly)over half the mortgage will be being paid by the renter. At this time I'm looking for feedback and suggestions from those who have been there....perhaps even from both sides. Thanks in advance for reading this and your input.
J
J