Duplex in Gresham OR

[Helme M.]

hello everyone and thanks for the replies. I am new to this whole new world of real state. I got approved for a FHA loan for a duplex up to 400k and I also got approved for a single family loan for 100% financing. The thing is that I do not know what route to choose. On one hand if I buy a single family with 0 down I will have the opportunity to use the 13k(aprox money down for the duplex) in buying and selling cars which has been profitable for me lately, but at the same time I know I have the opportunity to get into a duplex with only 3.5% down.

I found a nice property in Gresham OR for 375k. 3 units each side with 2.4 baths. Recently remodeled. One side is rented for about 1150(bellow market) the total rent is 2260(according to my lender). However, the location of the property is in Gresham, OR. This area is not bad but not highly desirable either. It is in great condition though. This will be my first real state purchase. Should I go for a duplex o a single with no money down.

Thanks for the advice.