Multifamily investing detroit

[Jamary Taylor]

Greetings everyone my name is Jamary. Currently an Engineer, 2 years out of college and I am tired of renting. In the next 12 months I would like to purchase a 2-4 unit multifamily in Detroit and live in one of the units. Just joined to gain advice and hopefully network with other investors in the area.

I have minimum real estate experience but my mother has flipped 3 homes in the last 5 years. I have gotten pre—approved for an FHA loan with 3.5% down ( max 2 units) up to 300k ( I have really good credit ).

Should I be worried about PMI cost with FHA loan ? Also shouldn't FHA loans be 4 units max or it depends on the lender ?

Look forward to networking with you all 😊

Stay Safe,

Jamary