Foreclosure vs Mortgage Loan

[Halima Martin]

Hey Guys! I just signed up for BP and I am super excited to have access to so much information. So here is the skinny: I have no real estate experience, a full-time job, planning my wedding for next June and have been renting for ever! (My current place I have been renting for over 10 years). After my wedding next year, my fiance and I were considering renting a new place (for a change in environment). Then the thought crossed my mind..."should we buy?" Then I started thought maybe I could invest in property like a multifamily property that we could live in and rent out the remaining units. This thought stayed with me for a while until I started to think that maybe buying a cheap foreclosure at the city foreclosure auction, paying for a rehabilitation and renting out this single family home would be better. So my question is to you, what do you think is more beneficial: taking out a mortgage on a multifamily property with minimal rehab needed and a 30 year payment plan OR saving money for a foreclosure and buying all at once, fixing it up and renting it out with more monthly cash flow (though I still would need a place to live). 

Thanks everyone for your input! I really look forward to learning more with the BP community.