What would you recommend as a first rental investment?

[Edlira Clevenger]

Hi everyone, Looking for some advice from BP community on what will be best as first time buy and hold investment. We will be looking into central Florida more specifically orlando area. Will take a loan and a family member will help with down payment which could be a partner in the deal too. Still have to sort out the details of that. But that is not he problem. My husband and I, were told to find the deal and present it to the person. We already own a home in south Florida on a VA loan at 3.5 % interest rate. I was thinking either refinance it and rent out of primary residence then purchase a new home in central Florida with a VA loan again. Might not be worth it as will hardly gain a much better rare to justify the closing costs. You get more house for the money there. If I rent out my primary residence I would probably net around $700.00 in profit. Another option we are thinking to get a duplex or MFH in central Florida maybe an off market deal. Then we eventually sell our house and move to Orlando area to be close to family. With the surplus we could put money down for our primary residence and a third property. Another option I was recommended from someone that is already Doing it, to buy a single family home with a lot of rooms and rent out the rooms separately. What would you do? Thanks in advance