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Updated about 8 years ago on . Most recent reply
First house.....a duplex?
My wife and I are looking at getting our first home together. We plan to live in the home until we can save up to build a modular home. We would most likely rent our first home out after we moved. We were originally thinking of doing a single family but have pondered the idea of getting a duplex and doing a live in rental with a FHA loan. It would be a big learning curve due to being our first home and being landlords simutaneously.
Does anyone have any insight on the matter.
I foudn the tenant screening guide I want to take a look at.
Most Popular Reply
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My first property was a duplex purchased with a FHA loan. I lived in one side rented out the other. Then I lease out one of my bedrooms. The rent from my tenants covered my entire PITI. There is no question as to whether or not it is a good idea. The only question is, can you find a duplex that meets all your non-financial criteria (location, condition etc).
- Kyle Mccaw
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