I am Stuck and Need Some Advice

[Vincent Pirrone]

I think I am stuck and can't start my real estate investing with my original plan. 

My original plan was to buy at least a duplex and live in one unit and rent out the other, but the lender I am currently talking to said I could most likely only get approved for about 250k. In my area those are either super run down duplexes or in super sketchy areas.

My next plan was to try to find a decent single family home with multiple bedrooms and rent out the other rooms, but I wanted to try to avoid the whole roommate situation.

My next plan was to try to buy a condo or townhouse because they are cheaper, but then I am paying the entire mortgage myself for about the same price as just renting an apartment.

Do any of these ideas sound worth it and possible with only being able to spend a maximum of 7k out of pocket?

Thanks!

[Account Closed]

@Vincent Pirrone Have you explored the 203k loan option? You might be able to buy a duplex that needs work at a discount. The 203K loan will finance all the repair costs + purchase price. You only have to come up with 3.5 % down payment.