Looking for advice

[Darryl Ribeiro Sr.]

My fiancé has over 200k in equity in her home. Her DTI is way to high to pull any of it out. We are trying to buy more properties so we've decided to sell & start over. The property we live in now is a 4 bed 1.5 bath single family, purchased with an 3% first time home buyers. We are looking to buy something that will pay for itself and eventually cashflow 3/4 tenement with me using my first time home buyers. Any thoughts on this strategy. TIA

[Darryl Ribeiro Sr.]

Quote from @Justin Hammerle:

@Darryl Ribeiro Sr. - If you guys are in a tough situation and are both in agreement I don't hate the idea of switching out a SFH for MFH house hack; a MFH will however carry additional expense and time with the added income. I would also visit with a loan officer and go over all the risk factors of loan approval for a MFH in the markets you are considering assuming you will need to sell prior to being pre-approved.

 I’ve spoken to a loan officer & they say this is the best route. I was pre approved for 550k but the funds to purchase the MFH are coming from the sale. We will use the first time home buyers 3% rate for the MFH.