Single Family or Multifamily for First Property?

[Joey Clowery]

Hello all!

This will be my first post on BP, and I've enjoyed reading through all of the great information this site has to offer.

My fiance and I are very interested in getting started in investing in real estate. I've seen two methods I believe would be best for us. That being, "house hacking", by buying a multi-family property and living in it while renting out some of the other units. Or, buying a cheaper single family home and lowering our overall living expenses(currently renting) to be able to save up for multi-family investments in the future.

Our plan right now is the latter, by buying a cheaper/smaller single family home to live in for a good amount of time while saving and investing in multi-family properties once we have the capital saved up. 

My question is, does anyone have any advice or suggestions for the current plan above? 

Any thoughts, or feedback is certainly appreciated!

Thanks,

Joey