I'm new to real estate investing and interested in purchasing a multifamily home (duplex or triplex) in Cleveland, OH or other naturally climate resilient and affordable markets. I'd likely purchase initially through FHA or a conventional loan due to lack of capital for down payment on an investment property loan. Have others bet on cities like Cleveland, Milwaukee, Minneapolis, etc given the relatively low climate threats in these areas? Anyone know the implications of trying to convert a FHA/conventional owner-occupied mortgage to an investment property in the case that my partner and I would want to move somewhere else but retain the property?
I'm also very interested in REITS but I haven't found any that are being realistic enough about climate threats related to natural disasters, floods, heatwaves, freshwater access, etc.
