Is this a good strategy for a first time investor?

[Account Closed]

So I have really been into REI lately and doing a lot of research and I think it's about time I develop and short term and long term plan. Just some info, I have very little capital. Anyway I was wondering If i could have some insight on what investment vehicle to pursue for a first time investor with little capital.

Here is what I have come up with so far:

Option one: Finance an owner-occupied duplex/triplex with a FHA loan and only 3.5% down payment. I have the money and the credit score requirement but I do not meet the 2 year employment requirement. Also this option seems very slow with minimal cashflow. And I want cashflow for future investments

Option two: Look into buying and holding small/less expensive properties, at first (due to my little capital) renting them for cash flow for later investments. Seems the most reasonable and doable to my knowledge at this point.

Option three: Partnering with other investors, lots of networking on my part, on flips until i raise enough capital to start funding my own flips. This one is a longshot but seems like it would make more significant gains faster. But also more risk involved.

Right now I guess what sounds best is to buy and hold, rent to build some cashflow and then transition into flipping. What do you guys think??

Insight and constructive criticism would be greatly appreciated =)

[David Krulac]

@Account Closed

& @Abbott Mary

I'd go with FHA, owner occupied 3.5% down, and have seller pay 6% seller help with closing costs. I'd live there for a year. Rinse and repeat.

I actually know somebody who bought 7 serial owner occupied mortgaged houses including a 3 unit, a 4 unit, a townhouse, a condo, several SFH, and a farm all as legal owner occupants by staying a year then moving on to a new property. He was always putting down the smallest down payments, getting the lowest interest rates and fixed for 30 year. All legal and...

How sweet it is!