Jon is right, the hard money/bridge loan is short term.

A friend of mine is building his own house and needed a bridge loan of $30k for a year before he could get the mortgage.

You would use a bridge loan specifically designed for this strategy from a lender that has done it before. 2.  

Major factors: I need to get into my own home within 3-4 months, the winter season sale prices won't stay as low for long, I want to invest in a property but the multi-families in my area aren't the best (little options) Philadelphia is right across the bridge for me to invest in as I build equity and/or tax season hits....what to do first is my question, buy a little high for my owner occupant and then invest, as saved cash is at a minimum, or rent, invest and then buy owner occupant property. 

If you are planning to refinance, perhaps it's better to get a bridge loan (or rehab loan if the property needs work).

@Jeff Bridges and @Russell Brazil thank you for informing me of some of the problems I can expect to encounter at the price point that I was originally considering.

Many people advocate jumping off the bridge now and you will figure it out when you hit the bottom.As a new investor do not let the money burn a hole in your pocket.  

Please help me bridge the gap between knowledge and action.

Your post was inspiring and hopeful since I am hoping to bridge into this career full-time in 5-6 years. 

BTW I have been to Hermon  It's a cute little historic area with a lot of craftsman houses... these 1900-1920s houses often have a lot of foundation issues and the majority of the time require/recommend an earthquake retrofit for sale ($3500-6,000)There's a cute park there on the Hermon park border that you walk under a bridge to get to.