Conventional loan or FHA??

[Allen Bannister]

I'm looking to buy an investment property but also looking for a main residence. I'm 24, working full time 4 days a week, decent income but i don't have currently enough for 20% down which I've heard is standard for 3-4 unit multifamily. I would prefer not to do a FHA and have to pay PMI on 3 different units till I'm at 20% invested.

I've also heard of a 3.5 - 5% conventional loan where you can avoid PMI and avoid laying down immediate 20% down. The property would cash flow even with me in one of the units. Just need to figure out the best type of loan for a younger dude tryna to get his first purchase. I plan on living in it for at least a year.

Any advice is appreciated!!