Hello all,

Newbie here, been reading the forums/articles for a while, looking for some guidance. I am trying to buy my first property as an owner occupant. Considering a buy and hold strategy for a multifamily property.

I'm hoping to get your opinions on 1) how would you evaluate the 3 properties I've listed below, 2) which property, if any, would you choose among them and why, and 3) if I have failed to provide enough information (which is likely), what suggestions might you have for filling in the missing pieces?

The following properties would be financed and intended to be rented to Section 8 tenants, as they represent the primary rental population in the area.

Property 1:

2-Family

Price: $140k

Needs no work

FHA Financing 3.5% down

Gross monthly income from 1 unit: $1,100

Property 2:

3-Family

Price: $125k

Being renovated; ~75% complete

Seller financing available

Gross monthly income from 2 units: $2,200

Property 3:

4-Family

Price: $160k

Requires full renovation, potentially $60k-100k

FHA 203k financing

Gross monthly income from 3 units: $3,600

Again, please help me understand:

1) how would you evaluate the 3 properties I've listed below

2) which property, if any, would you choose among them and why, and

3) if I have failed to provide enough information (which is likely), what suggestions might you have for filling in the missing pieces?

Thank you in advance!