The plan is to purchase a residential multifamily in the New Orleans or Baton Rouge area using a FHA loan.I'm currently in the research phase, listening to hours of Bigger Pockets podcasts and reading Real Estate Investing by Brandon Turner.

Hi Steven,It sounds like you and your wife, Renee, have a wealth of experience in the real estate and construction fields, which is a great foundation for starting your real estate investing business.Given your background in residential remodeling and home inspections, and Renee's experience as a real estate agent, you're off to a strong start.

You have a skillset that could be extremely useful for quick fixes and landlord issues and from there you can bridge relationships and partnerships to enhance your knowledge of real estate investing and couple your skills.

I am looking to purchase a residential or commercial multi family in the Sherman/Dennison TX area.

The issue is the laws should not allow this.https://www.cbs8.com/article/news/local/working-for-you/new-...Adding a single small unit is expensive residential development.  

My current insurance agent only deal with residential insurance companies.

Is this in a residential neighborhood?  

Depending on your finances you don't necessarily need to start with a duplex, but I wouldn't go any more than 4 unit if you're going residential.

., residential vs. commercial. 

If that's what you're really after I would start with the basics of what kind of bank loans either residential or commercial are available to you - not saying this is the best option, but it's a good place to start.