Using the FHA in NJ: What're your stories?

[Nicholas Jose]

Currently, I'm stuck at my 9-5 job here in Jersey. My goal is to house-hack a duplex via FHA sometime next year and use the cashflow to purchase my next duplex. But between now and then, I'm playing defense by saving my paychecks to secure my downpayment + reserves; using eforms and ezlandlordforms to create a system (i.e. generate leases, pet addendums, estoppel certificates, rent reminders, notices to vacate, etc); reviewing a variety of insurance policies; knowing how to split utilities between the landlord and a tenant in a duplex; dealing with inherited tenants; learning how to read the market in order to raise rent; and a bunch of other things before I close on my first property.

I'd like to hear stories from fellow New Jerseyans on how they used FHA loans on duplexes (or perhaps any property up to a fourplex) to build up their portfolio. Although books and forums are a great source of information, nothing beats the stories of real-life experiences.