Posted by Cyndi on October 04, 2001 at 19:48:27:
To the best of my knowledge 203(k) are for owner-occupied. You can purchase any 1-4 unit SFR that qualifies under FHA guidelines. So duplexes to four-plexes are options. Be careful that should you chose to move out after the required year residency that the property will support itself on its rents. Don’t get into something you’ll end up subsidizing when you more out. I’ve had a real hard time finding lenders who are knowledgable in FHA any more. Check out 203k.com. I haven’t used them yet but it looks like they know what they’re doing.
Best to ya!