I own several SFH, duplexes, triplexes, and a quad but I'm in discussion regarding a 13 unit mixed use property that is of interest to me mostly due to location (I own several properties in the area and it's near me and I have a good pulse on the town). 

Individuals owned their own home, or a duplex in which they were both owner occupant and landlord.  

Ditch the Condos? 

We've been honing in on a pretty good development/investment formula that is working for us where we buy an existing single or multi-family house that can be improved or easily split into smaller units, and then we also add small new construction units to the property (townhomes or duplexes or cottages) and, generally, we rent them all out (though we have sold a couple of single family rehabs and we may sell the units in our next big project...

At the time I purchased this condo, I was in my early 20's and the idea of signing a document that committed me to anything for 30 years freaked me out, because I hadn't even been alive for 30 years!

The pre-approval allowed us to make an offer before the condo we purchased was even advertised as being on the market.

So let’s say you are looking at a duplex (2 unit) as long as the rents total per month from the ( 2units) are equal to or greater than the PITI payment its approved.The way you shop for the home is by sale price and using the loan amount after down payment as your calculation.

I like Gulf Shores because I am looking for high-appreciation markets that can still generate a minimum 15% cash-on-cash return (CoC).I scrolled through the Deal Finder to review some deals with my set parameters: 4+ bedrooms ✅3+ bathrooms ✅No condos ✅View (sort of) ✅My price range ✅This listing sparks my interest.

Purchase price: $35,000 Cash invested: $45,000 I bought this duplex and it was a full rehab.

At the end of the day my biggest regret is not buying a duplex to a quadplex with a FHA loan.