If you are buying a multi-unit building and you are living there, you actually still qualify for NHE financing. This means you can put down the minimum, three and a half percent, finance the rest, at the low four and a half interest rate for 30 years. That is awesome. In the meantime, the other three units, they are not just paying your mortgage, you are probably still cash loading on that property. Down the road, you have to hold that property, you have to live in it for a certain period of time.
If you live in it, and you sell it later, as long as you have lived in it for two consecutive years and the most recent years, you can actually defer all the capital gains on that property. As long as you live there in two consecutive years, you can defer the taxes on that property.
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