Looking to get into multi-family rentals

[Ross Z.]

Hey Bigger Pockets community. I'm a Marine Corps veteran from Washington state moving to Austin, Texas in a couple weeks. I'll be renting initially but looking to purchase a multi-family home within a few months. I'd love to live in one unit and have my mortgage paid by the other(s). Running the Bigger Pockets calculators, it seems like all the properties in the Austin/San Antonio area don't make sense to do this with. They've gotten too expensive. Or am I missing something?

Any other markets you recommend I look at? Texas is my preference but also open to other warm states.  Many thanks!

[Dan Guenther]

@Ross Z.

Welcome to the community! When your looking in such hot markets like Austin, you really have to get creative and think outside of the box. Everyone wants that perfect multi-family situation but it's not always realistic or even the best choice. Depending on your comfort level, a rent by the room strategy or finding a single family house that could be converted into two living spaces might be a good option if you are set on Austin. 

Definitely keep an open mind and be ready to make some sacrifices for a few years.

Good luck!