The apartment I'm buying will be closed 30 days & will be my primary residence. Issue is there are tenants living there & their lease expires 5 months from now.
The current owner said I will be given rent from the property management to which tenants pay & can move in only once their lease expires as they have already informed they're moving out.

1) Anything I need to be careful about as new owner?
2) I thought it's not allowed to rent out the primary residence in the first year or so in MA

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1) I would look at getting landlord insurance for the period you will be renting the apartment. Also looks into any disclosures you have to provide tenants after the sale. In NY you have send the tenants a notice that owner of the property has changed.
2) if you are really concerned about this you need to have your lawyer confirm with your lender if this is acceptable. Or you could risk it. Lenders don’t just come to your apartment to check if you are actually living there or not. All they care about is that you are making your payments on time. As long you are late with your payments you will never hear from your lender.

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Any information on title insurance and homestead? Would you advise that?

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DM for referral.

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