Buying as Owner Occupant, Live in required time, Rent it, Repeat.

[Chase McEntee]

Hello Friends,

Im new to the website and the investment world in general. My parents own a few homes and rent them out, nothing serious but enough for some extra cash.( This is my first home purchase ever and my goal is 10 rental properties by the age of 40. I am currently 26) They are going to sell me one of their homes (4bed/2bath) in July for 80k. The home is appraised for 120k ish and not exactly in a great area but across the street from a elementary school in a decent to good school district. The plan is to purchase the home, live in it for the required time stated in the mortgage, and then rent it out ( repeat ). I am just wanting to get any and all opinions of my proposed strategy.Would it be better to flip this one and put a downpayment on a home in a better area? I appreciate any advice and looking forward to chatting with all of you!