FIRST PURCHASE, MAX OUT FHA?

[Hugo Cardona]

Hi Everyone, 

I am looking to buy my first deal with FHA. I have $20k saved up that I plan on using. My question is as follows:

Is it better to buy a decent, 250-300k duplex in an up and coming location for the 20k FHA 3.5% or max out the county limit on 3plex/4plex and have my family help me out with the difference in down payment (which would be 21k + closing costs) on a 600k property.

It seems like its a much better deal to stretch my dollar and 3.5% financing as far as i can. Are there any downfalls I am not seeing?  Any advice on that strategy?

Thanks everyone!

-H