First Property-Owner Occupy

[Kevin Sullivan]

Hello Everyone! Thanks for taking the time to read my first post.

I'm curious to hear if anyone else started out by occupying their first income property.  I'll admit, I just created an account on here a few weeks ago, and its kind of overwhelming.  

I am currently awaiting commitment from my lender on a 2 unit house which I am taking out a 3.5% down payment 30 year FHA mortgage. I hadn't heard of BP prior to this. While I have been passively looking for a multi unit house while saving (I wanted a much bigger down payment), I just couldn't pass up this opportunity.

I am just curious if anyone else started out this way.  I am interested in owning multiple properties ranging anywhere from 2-4 units, and hope to purchase another next year.  Although I will be living in half of the house (doing cosmetic work in unit 1, then moving to unit 2, doing the same, then moving out), after I move out the house will net me at a minimum $300.00 a month after PIMI.

Many of the things I have read usually consist of people purchasing with cash or a conventional mortgage, so I feel my situation is a little more unique, however I could be looking in the wrong places.  If anyone could steer me in the right direction I would appreciate it.

Thanks!

Kevin