., your flexibility is limited and interest keeps ticking. 

You really can't go wrong anywhere in the Pismo city limits.

However, with a 5% down conventional loan, there isn't a strict limit on the number of properties you can acquire, as long as you meet the lender's criteria.One strategy I've seen work well is using the FHA loan to buy your first multi-unit property, live in one unit, and rent out the others.

(If the concessions actually exceed your costs as opposed to the concessions exceed this lender’s limits.)

I have been doing good at acquiring and managing rental properties so it does concern me this new adventure would limit my ability to grow even after having systems and processing in place.

This increases resellability, as you're not limited to selling to just other investors like with small multifamily properties.

If it is not there, they are limiting your pool of renters..and potentially great tenants.2.

By limiting your exposure to banks and credit unions, you're leaving significant amounts of money on the table, along with superior terms (IE - 30 year amortization, partial-full term IO, non-recourse structure, etc.)Below are summaries of the Freddie Mac Small Balance Loan (SBL) and Fannie Mae Small Loan multifamily loan programs.

**Limited Ownership**: I don’t own a lot of properties yet, so paying off the mortgage on my current property provides a solid foundation.2.

Most policies have limited coverage for contractor mishaps.3.