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Updated almost 7 years ago,
New here (haven't started yet) seeking advice on my plan
Hello all
I am new to all this but my wife and I want to buy a quadplex or something similar and begin the landlord journey. I have been reading the Beginners Guide (great info in there) and learning a lot. Based on what I have learned we want to use an FHA loan and live in one unit while we rent out the other 3. The thing is we travel for work (keeping my job for now) and sometimes I am gone for 3 months at a time out of state. I know with the FHA loans you have to live there and I heard they sometimes check to make sure. So I am wondering if this is going to be a problem. I figure I can use a property management company for any needed repairs or emergencies if something happens while I am gone for work but otherwise my wife is available by phone consistently. I would hope to eventually have long term dependable tenants so I don't need the company as much but I am basically looking for someone to poke holes in my plans and see if there are any flaws. Thoughts?