FHA loan for my first Duplex

[Dilbar Chhokar]

Hello! My name is Dilbar, new to this forum, and eager to start investing. I’am in the process of reading my first bigger pockets book and always listen to their pod casts. The material in the book(Rental Property Investing)and podcast are really helpful. I have a quick question and maybe I can get some help or advice. The market I am in is fast and competitive and usually a duplex has a few offers within 24-48 hours and accepted soon after. I have a duplex in sight for investment purposes. I qualify for FHA loan for the 3.5% down payment, which also means I have to live in the duplex for at least a year. However, I also hear that FHA loans have a mortgage insurance for the life of the loan? Is FHA a good starting point for a duplex. I honestly would not prefer living in one side, but that would mean putting a larger down payment! Thanks for the advice in advance. Thanks!