Your first purchase: FHA MultiFamily primary residence or OOS

[Eric Lee]

Hello BP Family,

After 2 years of listening to bigger pockets and digesting all the RE books I can find. I have finally saved up enough to begin working on securing my first property. However, I find my self stuck between buying a 2-4 unit FHA for the low down payment or looking in less expensive areas like Indianapolis, Chicago, or some place in the Midwest.

Current situation- I live in Phoenix where real estate is selling at low cap rates and not in the best areas I’d care to put my family and 40k saved up. Any insight is greatly appreciated. Glad to be apart of this community!