Strategy years 1-5

[Bennett V.]

BP,

I am just getting my start in real estate investing with the intention of it becoming my full time career within 3-5 years from now.  My current living situation is living in an apartment with my long time girlfriend which we rent for $1100/month.  I have almost no money to put down on a property but may have an investor willing to put down $15k-20k this summer.  We just renewed our lease until June of 2017.

I had the idea that house hacking may be best for a duplex but my other half is not excited about that option yet (although I am working on that).  In my area I can get a decent duplex for between $100k-$130 which would bring in at least $1450 in total rent from the 2 units .  I could get cash flow running on this property using the investor for a down payment.

After this, my second move would to get an FHA with 203(k) on a SFH within a year from now while I have cash from from the first investment. This would still keep money down on the low end but give us a house that we can remodel and eventually live in. While keeping the first duplex, I would eventually flip the SFH to buy a more permanent home for us. If I was renting the apartment that I am in now, can I do a 203(k) if I have not "officially" moved into the house until construction is complete in it?

I would keep a large portion of money from the flip to invest in the next 2-4 unit rental.

Any ideas on this starting strategy?  It would allow me to use investor money on the rental while keeping my personal investment low on our "first home" and give me the option the flip that house to create more cash for future DP.

Any better ways to use the investor money since a house hack is not a foreseeable future?

Thanks in advance!