BUILDING a Multi Family house to live in?

[Kara Leboeuf]

I had an idea that I'm not finding very much information about. I was wondering if anyone has built a multi family and lived in one unit after construction was completed? This seems like it would be a good way to house hack if your market allows it. I already have connections with a builder but have a few questions.

- Can I use an FHA loan since it will be a 2-4 unit and I will live in the property once completed?

- Can the land expense be wrapped into the FHA loan, or would I have to get a second loan to finance the land?

- If FHA does not allow building loans, is there another type of loan I could get with low money down?

- What would you suggest I build a duplex or 4 unit, 2/1, 3/2?

- Has anyone already done this strategy and would they suggest doing it?

Thanks!

Nick