My first deal

[Phillip Gonzales]

So I need everyone's input please please and please :) 

I am going to do my first deal this fall and I am trying to do everything in my power to get as much information before pulling the trigger. I am planning to live in multi-family home. My goal is a 4 plex live in 1 rent the other 3. my price range is around 250k I plan on doing an FHA loan and was told that dp + closing costs would be around 10k. I am a licensed Realtor and was plan on using my commission as part of the dp costs. I am looking for something with existing tenants, but had a couple questions

1. While living in the home do you use a PM company or do everything yourself?

2. Can I keep tell existing tenants I am just renting or do I need to inform I am the landlord.

3. Would you focus on cap rates or cash flow. 

4.  Would you sacrifice more $$ for better area and in my eyes better quality tenants 

Please and advice from anyone is great I been doing many readings for sometime, but I am ready to do this :) 

[Arlan Potter]

manage it yourself.

Keep the good tenants.

If I am going to live in it, get an area that you like.