Wow!

The sheer volume of information on bigger pockets is both exciting and overwhelming.  I think I've been reading for days, and barely scratched the surface.  It sorta feels like I fell down Alice's rabbit hole, but in a good way.

Thank you, to Allison, the emails every couple of days with links to blog posts, are terrific.  It points me in the direction of interesting, informative articles that I could easily miss while wandering around here, getting distracted by all the different posts.

I'm new to this. I found bigger pockets by googling trying to find information on buying a quad using an FHA mortgage. I was, originally, looking for some security in the Denver market, where my rent is going up considerably faster than my paycheck, and with a disabled husband, limited means to generate additional income, the future was looking scary. You guys have given me a vision of what may be light at the end of the tunnel.

I have two possible scenarios for my FHA eligibility and I'm torn.

I have a lease option on my current residence, (townhome in Aurora).  I've been told that current market value is $175K.  My lease option is for $155K.  I am considering updating the townhouse, cosmetically, investing some cash (about $5K to play with) and a lot of sweat equity over the next 9 months, to see if I could get the value up closer to $200K, and then buy/sell and have some money for a step up.  Doing the remodeling while renting is a bit of a risk, but I'm currently paying $500 less monthly than I will be after I close so I'm thinking that might be justifiable.  My landlord is good with this. 

The other option, is to jump in with both feet, and see if I can find a triplex or quad, that I can buy, live in one, and use the others to help pay the mortgage. I'm pretty comfortable with not having the nicest, or being in the best neighborhood.  Then, in a year or two, refinance, and buy another.  Buying a quad in the front range is scary for a starting point, so I've looked at Phoenix, where the cost of a 4 plex is considerably less intimidating, but there are negatives.  I really don't want to move, and while my job could be done remotely, my grandkids are here and remote hugs just don't cut it!

I'm open to anything. Ideas, suggestions, tell me I'm crazy to be thinking about this at my age...but my IRA and profit from our home went to pay massive medical bills for a micro preemie granddaughter, so now I find myself at 60 with no retirement, no security.

I'd love to hear your thoughts on a direction?