My first property - advice needed

[Adam Miller]

Greetings everyone. First of all, I only found this site a few months ago, but I absolutely love it. This is a wonderful site, and reading the posts has motivated me to get off the sideline and get into the action. I have spent the last 5+ years "waiting" on the right circumstances, but now I realize that the perfect deal wont fall in my lap unless I take control and start acting.

With that said, I need some advice on my first purchase. Right now I currently rent, but in reading "2 Years to a Million in Real Estate" by Matthew Martinez, he mentioned if he had it to do all over again, he would purchase a multi family unit and live in one. I think that may be the way to go for me. My question to the board: Does living in the unit affect how I should value the property? Should I place any value in the fact I may be saving $200+ a month in rent by making this move?

I have so many more questions, but I guess I should start there and not turn my first post into a book.

Thanks in advance.

- Adam