House Hack in California

[Raymond Kovats]

Hi everyone, first off I want to say thanks for all the great info so far! I have a couple of questions. I currently own a home in the lake Elsinore area with an FHA loan for about 3 years already. My wife and I decided to rent it out recently because my commute for work was too far. We are deciding to refinance soon out of FHA into a conventional loan since we are at 73% LTV. We have about 15k in our savings and zero debt. our credit scores are rising again and are about 675 FICO. "still working on raising the scores". We want to get into the world of house hacking a 4-plex out here near the Upland, Ca area. they are pricy out here ranging from $650k-$800k. My question is how would you recommend getting started? I really don't want to sell my house but I would if I had to. I feel like we can do this along with keeping my house as a rental since I am making about $275/month after all expenses. We make about 95k/yr between both of us and no car payments or loans. Should I get some cash out when I refinance out of FHA for down payment on 4-plex? just trying to figure out ways to get started. Thanks in advance!