Best Path for an Investors Primary Residence

[Jacob Seim]

BP Community and Cincinnati Locals,

My wife, son, and I intend on moving out of our house hacked quadplex and into a 3/2 single family home here in the next few months. We intend on living in the home 5-8 years until our son is older and we move to a larger home in a great school district. A business decision will be made at that point whether to rent this house or sell and invest in a larger multi-family property.

We're trying to determine whether to after a fixer-upper/value add home (HomeStyle Renovation Loan) or simply get on base with a house that fits our list of needs (Conventional Loan) and then go after another rental. Tons of pros and cons either way.

What approach did you take when buying your first primary residence (w/ family in mind)? Did it work out well or what would have done differently?

Thank you!