Live-in flip with family in Nashville??

[Peter Shafik]

Hi all. As I'm entering this amazingly sophisticated, yet simple journey of REI, the best strategy I've come up with my lender is the following: refinance my parent's primary home (will get about 100k back), fix it up with some of the refi money (rough estimate of about 30k, but I've never rehabbed before so its a really rough estimate), Rent out the primary SFR, use the rest on a downpayment for another home that I would like to BRRRR and place my family (we are 4) in a multifamily house with separate units (with one other family member in another unit).

Of course, as we live there we will rent out the other units. Assuming I pick the right location, and run all the numbers correctly will this still work? I also can't seem to find a single property in Nashville whose multifamily has separate units. If I can't find separate units, what's the best course of action to take? Thanks in advance.

[Luke Carl]

@Peter Shafik so those properties on realtor.com are duplexes or triplexes. It’s probably a duplex and each unit has 3 bedrooms. Or if it says 8 bedrooms it could be a quad with 2 bedrooms per unit. They’re all under one roof but there are separate entrances and separate meters. It’s like a small apartment building. Check LoopNet for listings of bigger buildings. You’ve got a long way to go but that’s ok just keep asking questions! Also I don’t think many will dissagree that it’s not likely you’ll make a buck in Nashville. It’s been done for a few years.