Looking to purchase a Multi-family.
Hello,
I'm a married veteran and I just recently closed on my first SF home. I've always wanted to get into multi-family investing.
My mother wants to get into home ownership but has some credit issues. I proposed that we include my grandmother and we all try to qualify for a loan for a multi-family in which she would move in one side for a year and rent the other unit(s) out then later refinance it. The plan is for her to eventually be able to get her own SF home after that year.
Does anybody see any issues we might run into with this plan? Any advice would help.