Owner Occupied Duplex/Triplex

[James Peters]

Hey everyone! I am new here so I apologize for the incomplete profile. My name is James and I am 21 years old. I currently live in southern California. I plan on moving to Texas around March of next year with my Fiancee. I have been looking into purchasing duplexes/triplexes around $100,000 and having the other tenants pay the mortgage or help with it. I own a credit repair company so I have that as income but I am still starting out and am looking to save as much money as possible (Which is why I am looking at this VS. an apartment.) I also want to start building myself up in real estate investing and I figured this would be the best choice to start. I have also read that getting an FHA loan is easier if your owner occupied. and I can put 3.5% down. So I guess my questions are, does anyone do this in Texas? Does anyone have any good advice? I spoke with Wells Fargo today and they said for an FHA loan at $100,000 with $3,500 down I would be at about $900 a month in mortgage payments with a 740 credit score and $5,000 in closing costs. Has anyone done this before starting out? I am curious to learn as much as I can! Thank you all for your replies!