Purchase first Investment Property Q1 2024

[Adoney Reid]

Hello BP Family ! I am looking to purchase my first Investment property Q1 of 2024. 

A little about my self, I migrated in 2021 from Jamaica to beautiful San Diego. I live with my wife In downtown San Diego raising 3 kids while working as a property manager and security officer on the weekends. Its been a long journey getting myself situated and finding my grounding but I am finally able to lift my head above the water as I've managed to finally save 80% of my downpayment. I am looking to purchase my first triplex/fourplex house hack. The purpose of this Investment would be to live rent free with my family while start the process of building equity for my family as I do not subscribe to a retirement plan. My chief aim is to actively engage in the markets acquiring properties and build a robust portfolio. If anyone has any great advice or input I would greatly appreciate it and also look forward to building meaning connections on here. 

Financial Profile:

Income: will be using 1 job as qualifying with 2 jobs requires 2 years history

Credit profile: Strong dynamic credit profile with 4 years history and a 730+ score as of today. ( will be 740+ in Jan) 

DTI Ratio: 15%

Investment Criteria:
House-hack (live in one unit for 1 year / rent 2-3 other units

Close proximity to Jamaica and Florida with Warm weather and easy travel back home

Buy Into Equity / Cashflow

Downpayment: 13K

Purchase price: 180k - 330K

For this investment I would like to lean more towards cash flow (passive income) than appreciation as I