You can use an FHA loan to live in one unit and rent the others for up to 4 total.

@Tina ChauGoogle the county recorder's office for where you live and it will have that info.

I would live there while fixing it up then renting it out in a year. 

Question for you experts...Can a tradesperson build their own home in Minnesota, live in it for several months, and then sell as new construction?

Hi Garrett,I live in Santa Fe, and invest in multifamily Albuquerque. 

Is a DSCR loan something I could look into since I don’t live on the property myself?

In addition my drivers license which they have a copy of show that I live in a completely different state. 🤷‍♂️ 

With the average apartment in my area ranging from about $1600 and up, having a mortgage rate between $1200-$1400 (again, rough numbers the lender provided me with) doesn't sound too bad considering my money would be going towards my investment and not just right out the window.Now all this sounds very intriguing considering I am ready and willing to take these steps, but with where I am at as an hourly wage employee living paycheck to paycheck, in a VERY expensive town to live in, the numbers just seem quite daunting.

We are choosing new build because A) our family 4 has a certain size demand B)  the price-quality ratio doesn't seem to make sense when considering a preexisting home C) with interest rates being at near 8% with preexisting homes, builders are offering 5.99% interest rates and the exact home we are looking at is about $75K discounted because it's a spec home and the builder doesn't want to pay taxes on it.So, live in it for 5-6 years hopefully rent it out with a fully finished basement for potentially $4,200 in 5-6 years.

Lend to Live: Earn Hassle-Free Passive Income in Real Estate with Private Money Lending. www.biggerpockets.com/lendtolive.