Summary of my business plan

[Paul D.]

Hello BP!

        I have been planning and studying past 6 months and want to make my big investment move in 2017! Here is my business plan summary please give me some feedback I am open to any ideas. I am curious of close I am to being on track and having a well thought out plan. Thanks guys for your help. Heres my plan :

1)I want get my foot in the door by pulling out an FHA loan and owner occupying a multi family. (preferably a 4 flex)

2) Through correct analysis of numbers and buying right, I will figure out what the fair market value is of the property and offer at a 10% discount so I can buy with equity into it. I will hope to have a COCROI of at least say 10% (thoughts on that?). Also I want to have a cash flow of 200 per unit. 

3) I currently run my own business so time is very limited. I want to higher a property manager. Through analysis stage if the numbers are meaty enough and I can still cash flow why not right? ( I do plan on buying more properties)

4) As I live in the property, I will have my tenants pay for the mortgage and expenses. My plan as also a tenant will be putting money into the principal bi-weekly to get it down more to cut the interest and also build equity faster. (once again ill be able to dump money in from my income of my business to pay it down faster)

5) Once I have enough equity into the property I would like to take out a H.E.L.O.C and roll that into a down payment for another multi family. 

6) I will then repeat this process and let this become my system if all comes to plan and is successful.

My short term goal is to have monthly cashflow to cover my personal expenses. I then like to build up my goals to financial freedom and more. Is this a good way of thinking or is there anything I need to focus more on. I have a much more detailed BP in my computer but this is it in a nutshell. Looking forward to the feed back guys. THANKS!