Seeking Advice on Duplex Investment for Cash Flow and FHA Financing

[Rickey Brunson]

Hey BiggerPockets community!

I'm in the early stages of planning to invest in a duplex later this year or early next year. My primary focus is on cash flow, and I'm aiming for a turnkey property with FHA financing. My budget is less than $200k, and I'm looking to live in one unit while renting out the other.

I'm not particularly concerned about property appreciation; my main goal is to generate a steady income. I'm interested in areas with a strong rental demand. Could anyone provide recommendations on specific locations or strategies to maximize my chances of success in this venture? Any insights on markets with affordable duplexes, good rental demand, and FHA-friendly opportunities would be highly appreciated.

Additionally, if you have tips on finding turnkey properties or navigating the FHA financing process for duplexes, I'd love to hear your experiences and advice.

Thanks in advance for your valuable insights!

[Najma Osman]

Hey @Rickey Brunson, 

If you're looking at using FHA financing, I'm assuming you're planning to owner occupy the duplex. With that in mind, you're probably not cash flowing off of one units rent. You'll end up paying a portion of the mortgage out of pocket.

Turnkey duplexes in Columbus are usually at least 200-250K. Most areas in Columbus have strong rental demand. If you're looking for under 200K, you may want to focus your efforts on Hilltop, Franklinton, Linden, etc. Looking forward to connecting and discussing more!