Beginner - Expensive Market Issue

[Samuel Thomas Miller]

Hey BP community, 

I am trying to figure out the best approach to purchasing my first rental property. I'm green but I'm reading all the legitimate material I can find on RE investing. 

It would preferably be a duplex or a property that can easily be converted into one. I plan to reside there for a year. However, I live in an area with an inflated/expensive housing market (Charlotte, NC); I currently rent. 

I'm leaning towards the FHA loan route. Where would you start if you were in my position?

Thanks!

[Nicholas Icard]

@Samuel Thomas Miller

Hey Samuel! I'm an investor/realtor here in the Charlotte are. Do you know what specific technique you would want to utilize? Buy and hold? House hack? Are you looking in the Charlotte market or somewhere else? As far as financing goes, there are conventional loans specifically for first time homebuyers that you can utilize to put 5% down (giving you the advantages of the conventional loan with the desirable low money down aspect of the FHA). I'd love to chat more about the specifics of your goals!