Duplex

[Seth Hursh]

Like I said in my introduction, I am moving to Florida and want to start investing in real estate.
If I were to invest into a duplex and rent one side out to cover my mortgage plus some, would that be logical. Or should I rent both out two double the income, which I could put towards my mortgage as well?
I'm new to investing and trying to learn as much as possible, so do not be shy with the info.
Thanks,

Seth

[Jean Bolger]

Owner-occupied mortgages are easier to get, with lower downpayments and better terms. Also be aware that unless ( or until) you have two years of prior "landlording" most lenders will not let you count rental income as part of your income on a mortgage application. So to buy two properties you'd need to be able to cover both mortgages on your regular income. That's a pretty high debt-to-income for most folks starting out. I bought a duplex and lived in it for my first home/investment and it worked well for me. I refinanced after a few years and bought another multifamily.
oh, and if something's leaking at 9 at night, your tenant is going to call whether they're next door or not!