New to Real Estate, take a look at my plan..

[Carlos Rodrigues]

Hello landlords, my name is Carlos and I'm seeking a future within real estate. I'm currently taking real estate courses to get my real estate license. Book after book I'm doing nothing but gaining knowledge of the business. With still many unanswered questions still in mind I'm on Bigger Pockets to ask questions and learn from you! As I sit in my car listening to BP pod casts, read blogs and write down notes I jotted down notes as I wait for my real estate class to start. Again this is a new field for me as I my occupation is being a Electrician/ Solar Photovoltaic Electrician, so I'm sorry for any silly questions or ideas I might have that might not make sense. Currently taking my 75 hours in NJ to get my real estate license. I choose to take this class mainly for knowledge! It's part of my "college tuition". Getting more into the course I realized how important and useful taking the state exam and getting my license could be. So hopefully by the end of August I can hold my NJ Real Estate License. I think plan on buying and holding a real estate multi family property. I was seeking a two family house with finished or particularly finished attic and basement. Along with 1-2 car garage and a good sized backyard.. The plan, which we can probably see where I'm going with this. Rent both floors and the attic along with the garages and make parking spaces in the backyard for 2-3 cars. I would also like to live in the basement. I would make the basement habitable if current conditions aren't habitable. The goal would be to have some positive cash flow $300-900 a month and live for free. My only worries it renting the attic and living in the basement. Also I would only be putting a down payment between 5-10% and I've head with under 20% I'm required to have this property as a primary residence.. My questions: Do you think I'm over my head? I know it's not a legal 4 family only 2 family, what are my risks? Am I required to make this my primary residence with being under 20% down payment? What other ways would you go about my situation? Fee free to leave any other comments and or links related to my situation for additional advice. Thank you again, and sorry for any punctuation errors.