My wife and I have found a great little multifamily home that will fit our financial situation perfectly. We want to use this as our primary residence both as a practical means and also to keep in line with FHA loan requirements. This is not just going to be an investment home.
The catch. All three units are currently rented. 2 of the units have leases that expire in early 2014 and one of the units is a month to month lease. How do we, both ethically and legally, ask the month to month tenants to leave?
If there are any delays, and we have to wait for the tenant to find suitable housing, could a loan based on us using the property as a primary residence be jeopardized?