FHA financed Multi family in Dallas, Tx

[Ryan Green]

I am looking to purchase a multi family in Dallas. Duplex, Triplex, or Fourplex. I know that you can get a multi financed with an FHA loan (http://www.fha.com/lending_limits_state?state=TEXAS) and that there are incramintle increases in how much you can barrow. Does anyone have any experience with this type of purchase and be willing to give me some advice?

[Andrew Postell]

@Ryan Green & @Pat Mayo good points all around.  The DFW area doesn't have a lot of choices when it comes to 2-4 unit properties.  Well, I should say in comparison to some other large markets like Chicago, NY, California, etc.  In those cities the cost of living was so expensive that people had to make properties multi-units just to afford to live there.  Here, we've never had that problem.  So while there are some properties that fit this mold there is a much smaller percentage of them.  It is possible to house hack and normally the time frame to do it to make it "worth" being an investment property is about 3 years.  This is a rough estimation of course.  The popularity of Air BNB have made some properties fit that mold better than others and the payback can be sooner.  In either case, finding the property is the hardest step in the equation.  Hope this helps.  Thanks!