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K-Fed: Rent to Own

7/12/2007 1:08 PM PDT BY TMZ STAFF

K-Fed has moved into a brand new $3.2 million home -- that he's renting! D'oh!

Federline's 7,000 square foot home in Woodland Hills, Calif. has 7 bedrooms and 8.5 bathrooms -- enough room to accommodate his four children and his two baby mamas! Family time!

The ex-Mr. Spears, who is still hounded by the paparazzi, hit up an ESPY Awards after party at the Mondrian last night with a rented entourage of burly bodyguards in tow. One of these days, Kev will actually buy something -- as soon as Britney gives him a raise!

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