Looking for advice

[Cemone Cowart]

Hello,  I have been doing a lot of reading and research on Real Estate Investing and it's something that I would like to start but just want to make sure I'm on the right track and making the best decision for myself.

I am 23 years old, working full-time for the state of CA.  I currently rent a 2 bedroom apt in the Bay Area for $2200 (my portion is $1100).  I'm thinking about purchasing a home to live in, while remodeling, then selling.  Because the Bay area is so expensive, i was thinking about purchasing a home in Mountain House, Tracy, or Manteca CA and commuting.  

I've read about the FHA 203k loan and its very considerable however, I'm not sure it's suitable for me since after a year or the time to rehab, i'd want to sell the home. My fiancé has $40K that he'd like to invest so I can do a conventional loan with his help. Any recommendations?