Another idea for housing economy if you have an office is to rig your office to live in but not sleep in. 

Hopefully you already worked this out.Aside from HML, there's also an option to do a live-in-flip, where you live in the house for a year and renovate it slowly.

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Quote from @Kyle Barnhart: I live near Phoenix and looking to invest locally.

But as a new investor, sometimes this advice leads you to only have cheerleaders in your life.

You said that you are applying for an FHA loan so it sounds as though you'd be living in one unit. 

I lived in LA for a decade and we have many friends, family, clients and community members suffering and send our sincerest condolences to all of those experiencing and affected this tragedy. 

I tend to stay in my lending and financing lane lol Hi ClaytonMany thanks for the kind offer, Since this is a rental property, my living home insurance(which is way less even though my living home is value about twice the rental property) does not cover landlord insurance. 

I wanted a house for myself to live in and I had been living with parents for two years to save money.

We plan to come back live in it the other 6 months, fix it up more, repeat that process until we can find another deal that makes sense for us.