@Genny LiThank you so much for going through these properties.

Instead we rented it for a song knowing all the money would be made on the sale not on CF.

@Johnny McKeonThis reminds me of a line in a Chris Rock song..."

We have had a business banking relationship with a regional bank for going on 4 years. 

Here is my plan: - Purchase a distressed SFH using a conventional loan (5% down)- Live in that property for 6-12 months while rehabbing it- Cash our refinance - Purchase another SFH as my new primary residence and plan to live there for 3-5 years- Rent out the initial SFH and cashflow a reasonable amount - Continue to save money from working + build equity in the initial SFH- Leverage a 1031 exchange to sell the initial SFH for a distressed multi-family property (using my own savings to supplement the down payment)- BRRRR that multi-family property and keep repeating from there Here are my questions:1) Would I be better off forgoing the two SFHs altogether, and continuing to rent an apartment until I have enough money saved up to buy a multi-family property as my first investment? 

You deserve it for going through what the DOB does to our city homeowners.

Someone wrote a song about that. 

Except for the forgoing Borrower may pay all or a portion of the amount earlier than it is due.I have cash (due to sale of a property one of the LLC's owned free and clear) that is sufficient to pay down 3 of these mortgages. 

I'm all for going against the grain but this is a little too risky for me.Side note: if you like your loan officer, wait until you've had your loan for 6 months before paying off the loan or else they get their commission charged back and they did all the work for your refi for free.

My biggest reason for going this route is that Charleston, SC is expensive and I do not have enough $$$ for a down payment right now.