Newbie Investor Question

[Christopher Malone]

Hello everyone,

I am starting my investment journey in the Chicago land area, and I have a question regarding the strategy I should use for my first buy and hold property. I am planning to buy my first 3-4 unit home using a 203k Consultant FHA loan. I want to purchase around 30k or less and put around 70k or more worth of renovation into it, depending on the purchase price. Would this be a better investment strategy vs. purchasing a ready to rent property? I do plan to occupy the property.

Thanks in advance