Yes absolutely , he would need to occupy one of the units himself. This actually is a wonderful way for these first time buyers to own and get assistance in paying for the mortgage with a renter.
Let me know if I can help:)
Tyrone, I suggest that you contact some mortgage brokers and see what they say. You may not necessarily want them to run your credit now, just explain you situation and see what programs they might have available for you.... more
I'm not sure why you would want to wait a year. It is hard to answer without more information. But, my first answer would be to find an honest, qualified lender. They will be able to tell you guidelines for underwriting where employment is concerned. I work with several very good lenders, but the guidelines do not seem to be the same from one to another. Sometimes I'm told as long as it is in the same line of work, it doesn't matter. Sometimes I'm told you need a minimum of two years at the same company and so on............
Check with a lender and then get moving. Home prices are low and so too are interest rates. I'm not sure why you would want to wait!