1st Multi family house and planning to live in there

[Amily Yi-Chieh Tseng]

Hi everyone. Rookie to RE investment here. My family really needs a bigger space to live, my husband is a first time home buyer so we are planning to Take the low interest rate opportunity to get a multi family house.  And maybe after a year or two we will move on to our next single house or something else.  My kids are still both under 5 so we still have time before settle down on a certain school zone but we do want to stick to certain area close to hubby’s work. We plan to continue the buy and hold process down the road.

So my questions are: Would you still follow the 1 or 2% rule when selecting the property even though we plan to live in one of the unit for a while?  I’m debating should we go though the renovation, and not sure what loan should we get?  should we go to private lender in this case?  Thank you!