Personal residence opinions in general and for Austin, TX

[Christian Ruiz]

I have a general question for all of the investors out there, what do you do with your personal residence?

Did you establish your primary residence before or after you started REI? Do you rent or own?

I'm interested in a general consensus from the forum. I'm currently in the market for a primary residence (in Austin, TX) and I'm going in with the mentality of buying a fixer upper, executing a rehab, then potentially rent/sell in 1-2 years (potentially using a FHA 203k, but can do conventional financing as well). Deals are pretty hard to come by these days in the more desirable/up and coming area's of town, so it's making this process pretty difficult. Deals can be had on the outskirts and less desirable area's, but i'm not looking to move that far out. I'm currently renting, and am on a month-month lease which I can terminate when it is convenient for me.

Any thoughts or comments are appreciated on your personal situation or general advice for the Austin area.