Should I wait for a 4plex in NH?

[Rick M.]

I’ve been wanting to invest into a multi-family property (4 or 3 plex) for some time now. This will be my first property I do plan on living in it to get firsthand experience being a landlord. I have been scouring the internet looking of a listing in Dover, NH. Yes I do have a agent (I haven’t signed any paperwork with them but they have been more than helpful with helping me look at listings that do become available) I have only seen one 4 unit in the past 10 months of looking and it was scooped up within being 5 days on the market. Right now there are a few 3 units in Newmarket and near Dover but not any 4s. I’m trying my best to hold out for a 4 unit but at this rate it doesn’t look promising to get a 4 unit near Dover. My question is should I hold out for a 4 unit or would a tri-plex be just as profitable?

I don’t plan on cash flowing too much because I will be occupying a unit, my realistic goal is to break even while I occupy one unit so I know when I plan on moving out of this building I will be cash flowing from the extra rent. Is this a naïve goal I’m shooting for? Any constructive advice I would love to hear it. Thanks BP

[Douglas Krofcheck]

I'd agree with @Max Householder.  I've been looking around Nashua and Manchester and only a couple plexs looked like their photos.  Most were far worse.