HI Guenevere, You can acquire your a primary residence from up to 1-4 units for as low as 5% with conventional or 3.5% FHA with a few exceptions.

Look into how your county handles properties of deceased residents who pass without a will or trust.  

We've gotten great residents who we met despite their original search on FF being way below market.

Do I have to be a resident in the state im buying in? 

Speaking from the Arizona perspective, we are experiencing continued growth, attracting lots of new residents (Californians choose Texas and Arizona as their top 2 places to move).Here's an economic forecast:https://www.azcentral.com/story/money/business/economy/2019/12/11/arizona-state-university-annual-economic-forecast-predicts-slower-growth/4398074002/Not sure where you are getting your "low rent" thoughts, maybe compared to CA.

To receive the 4% ratio, you have to submit an application showing the property is your primary residence.

I'm excited for the opportunity to be apart of the community with BP, I reside in the state of Virginia and started my investment journey many years ago at 22 doing fix and flips, I stopped when the market crashed in 2007/2008 and didn't like the way the market looked and I left the investing world, I became a mortgage loan officer, and then processor and later underwriter and learned the backend of the conventional lending world.

This will be a 1,600 square foot residence, 40 x 40. 

Investment Info:Single-family residence buy & hold investment.

Do you have to commit to only serving one type of resident over the other?