Looking for buy&hold opportunities in San Jose, CA with VA Loan

[Scott Kim]

Hello-

I am looking for buy & hold opportunities on multi-family housing in (or near) San Jose. Looking for a 2-4 plex house using a VA loan w/ $50K cash in August 2017 time-frame. According to a VA rep, I may be able to qualify for a $750K-$850K mortgage.I plan on living in one with my family one and rent the other rooms.

I come from an outside area. Quickly realizing that it is very expensive to live out here, so it challenging to find properties that would pass the rule of thumb tests (50%, 2% rules, etc). It appears my only options are: (a) need more capital personally; (b) live in an un-safe areas (property values are lower). 

- Does anyone have any successful stories in this area? if so, can you share them.

- I would like to link up with people who know about this area. I would like to establish realistic goals.

- Is there a strategy to not live in the property using the VA loan? I am positive I already know the answer, but please share if there's a way.

Thank you everyone!

- Scott