My 1st Purchase in Orange County

[Felipe Salgado]

Hi everybody,

I'm in the process of buying my first property and I'm looking for some advice or a little help from the BiggerPockets family. 

I'm using my VA loan and I'm looking to use this as an investment but at the same time this would be my primary residence, for now at least. I'm looking for a 3 bedroom house/condo/apartment. My brother and I are moving and bringing a friend with us. They would pay rent of course and that'll allow me to save some money for my next investment. My thing is, I'm buying a house in Orange County and as many of you know, it's an expensive market. With using the VA loan and looking at my situation, with your experience or with your knowledge, what kind of property should I be looking for? what would be the best option for a smart investment?

Right now, I'm looking for a property that can allow me to do some rehab but with the VA loan it can't be anything too crazy. I know when buying property I shouldn't rely to gain value through appreciation. Would it be smart to buy something already in good condition that doesn't really need rehab or should I still look for properties with some rehab work in Orange County. I have about 10-15k to start so I don't have a ton of money but I do have some and I know it's more than enough to start.

I appreciate this site and everybody who helps others make their dreams a reality and I'm looking to be one of those people. Thank you BP!