***FHA 203k loan for first investment property?

[Ryan McElroy]

Hi, i am a 23 year old graduating in May 2015. I plan to relocate and start/build my real estate investing portfolio. I have an end goal of 2-3, 75 unit apartments complexes brining in substantial cash flow each month. 

After doing tons of research (i'm not done and wont stop anytime soon), I feel that using the FHA 203K loan to purchase a fourplex would be the best way to start this adventure. I would live in one of the units, rent out the others and live for "free" while my properties mortgage gets paid down each month. I will continue to purchase more properties over the years, using the equity/cashflow/inflation/refinancing to trade up and purchase larger apartment complexes, eventually retiring at an early age!

**My question is....would the FHA 203K loan be the best way to start my investing career give this mini business plan? I will be working full time as a Registered Nurse (3, 12 hour shifts a week, 4 days off), and dont have much money starting out since i'm literally starting my life from scratch haha. I feel that having this first fourplex would be a great foundation to show me the ropes, while at the same time living for free and focusing on the bigger picture!

Any advice would be great, Thanks!

Ryan