We checked off just about everything on our list of concerns, and formulated action plans for them.

My request ( in addition to my wife's) - I want to be close to where the real estate investing action is.

I have a plan of action and am ready to start looking at deals.

It might be a little harder on the front end to cover the increased payments, but in the end you'd pay significantly less interest than you would following your method.Sorry if I sound like a sour-puss contrarian; I actually really love these kinds of posts that give real actionable advice, but I also like to hear and offer alternate views.

Congrats for taking actionable steps.

You also wouldn't qualify for FHA if you weren't willing to live in one of the units.As @Jonathan Gregori mentioned, creative financing is another option with a lot more flexibility.One last thing, if your strategy is aiming for cashflow, then it may be difficult to achieve with a 4-5 unit property for $400k+ in the Sacramento area with <20% down.I wish you the best as you start taking action!

The circuitry is not difficult to understand or follow.For any action you take in real  estate thee will be a reaction, that's part of the circuitry.

My favorite book on real estate is "the millionaire real estate investor" by Gary Keller.Eschew consumer and student loan debt as if your life depends on it....because your financial life quite literally does.

(probably too much studying and not enough action) But I'm now ready.  

There seems to be a lot of action along the I-35 corridor, I know Austin is extremely hot, and Dallas good, hoping some of that spills out to the smaller towns.