I just started looking around the market to invest in my first real estate property. My goal is to find a multifamily home and use my VA home loan. To use a VA home loan for a multifamily home one of the units have to be your primary residence. I was told you generally have to occupy one of the units for about a year before you can move out to rent out the unit you were staying in. The VA home loan allows a zero down payment so I think this is a great way to start off right? Well I came across a very nice duplex in a great location. Its listed for $190k and I'm sure that price can drop some. From the quick math that I did I'm seeing that each unit is being rented for about $800 a month total of $1600. My mortgage would be near $1,200 a month basing it off $190k tax and insurance included. That leaves me with $400 cash flow , the electric, heating, cooling, water/sewer, trash collection, cable TV expenses are the tenants responsibility. I will also be taking care of all basic maintenances. Now being I will have to live in one of the units one unit wont cover all the expenses. So for the first year I would have to pay half to help cover everything. This means no cash flow until I can move out and rent out the other unit.

Is a property like this worth looking into more? Remember, I'm not having to put any money down but will have to put money into it each month. This can be looked at like that's a down payment over time but if I were to move out with in a year it would be a whole lot less than your normal 20% down. You can say I'm investing $9,600 a year into the property while living in it. When both units are being rented the property's net income is $16,550 so if I were to move out within a year my cash on cash return would be excellent.

These numbers or rough estimates but I more wanting opinion on the strategy. Any info/advice would be great. Like I said this will be my first real estate investment.