Advice on how to proceed?

[Nathanael Giovanni Opoulos]

Hello,

I recently joined biggerpockets and have been really excited about getting into real estate investing. I've started looking at multifamily homes with the idea that I can do a house hack. I have about 14,000 saved away and was thinking of doing an FHA loan to fund my first purchase. However, I'm currently renting an apartment and I am under lease until September 2020. I was reading the lease and in order to terminate early, which I would need to do in order to live in the mfr I'd buy, they want 75% of the remaining lease amount. Currently that would amount to around 7600. Now the goal behind the house hack is to eliminate or reduce my largest budget expense(housing). So I understand I wouldn't necessarily need to move if I can figure out a deal where I can cash flow the property without needing to live there. If I do that though, I don't see how i'd afford a down payment at the higher percentage. Should I just continue saving for a larger down payment and look at purchasing once my lease is closer to ending or is there a way to still make this work with the constraints I'm under?

[Nathanael Giovanni Opoulos]

@Account Closed 

I have spoken to a few different lenders, some local banks and credit unions. They have recommended I wait until the end of my lease as well. I haven't started the pre-approval process because I didn't want to ding my credit before I was sure I'm going to go out and make a purchase. I've saved about 14k, have no debts, and a credit score of about 789. Every time I've inquired about pre-qualification instead of pre-approval I've been informed that they only do hard checks, which i'm okay with but not sure if it is necessary given the time frame.

@JD Martin 

I imagine I can use google to search for state laws on landlord/tenant issues?