Salt Lake City college BRRRR

[Talon Hawkes]

Hi all,

The last few months I've been educating myself on different real estate strategies and came across BRRRR. I'm going to be moving out of my parents house ( I am 19) to go to college at Utah state University. My question to you is can I live in this multi family house that I buy for the four years of university, and then refinance after I move out or can I refinance after 1 year while still living in it and get my money out to move it to a new deal while still living at this house?

I'm thinking of saving up 20,000 and then putting 12,000 down for FHA loan and having a buffer for cap-ex and repairs.

Is this a good idea for a college kid who has little income from part time job to be buying a multi family home?

My other idea, which would be a lot cheaper, is to buy a mobile home and fix that up and sell which might only cost me 10,000 if I do it right.