Newbie Investor Introduction

[Dylon May]

Hello BiggerPockets Family!

I am a newbie to real estate investing, and very excited about starting a New chapter of life that will afford me passive income, and will allow me to truly achieve financial freedom! I am 30 years old, married with 2 children, 1 on the way, and work for an international bank full-time as a business analyst. My wife is a registered nurse who works in coordination of care at our hospital here, and is about to take her leave.

Currently, we rent a SFH in Fayetteville, North Carolina (Fort Bragg) in a great neighborhood. I am originally from Charlotte, and based on the research that I've been doing for the last month, MFU's is where I should start. I'm not sure in which market should I start looking for deals, so that is where I need a bit of assistance. What are your thoughts? Fayetteville, Charlotte, or Raleigh to start?

We want to be able to find another SFH and live in it for a year then rent it out. The other option that we are considering is finding an MFU, living in it for a year while simultaneously renting out units. After the year is up the entire MFU you will be tenant-occupied. Based on your experience and knowledge, which would be the most efficient option for newbie investors considering our situation, and family size?

Lastly, what are the best options for securing capital outside of using our own funds? I want to jump in as soon as I can, however I don’t think I can afford to wait until I have an estimated down payment, closing costs, or any other related expenses. How would I be able to articulate to someone with access to capital that there may be an opportunity for passive income if I came across a good “deal?” 

Any insight would be greatly appreciated. Thank you