You have a great idea...so long as you have enough funds (18k+) to start up a property.

Petersburg FL) with the "low income" I'm making (around $4,200 per month) at my job, it's proving difficult to find a multi family property that I can afford with month to month tenants or with 1 vacant unit.

Congrats - really think this type of investment is great for starting out - reasonable low price / small multi-unit

We've got an OLD - low-budget chat available on the site at: chat, but if there's more interest, perhaps we need to look at taking it to the next level . . .Anyone else?

appraisals are unpredictable - say after that year, it appraises low. 

I see your point, but it would suck to really start making some headway and then one "accident" cause you to lose everything simply because you didn't take the time and spend $200 to incorporate I get what your saying Chase but the odds of someone suing you are actually very low if you are running an honest business.

If it was 2021, maybe even the middle of 2022, I wouldn't even ask this question as I would expect the results to heavily favor refinancing your primary into a rental property, taking the funds from your equity growth, and reinvesting the capital into the next property.I have heard many homeowners/landlords recently leaning toward selling their primary residence and moving the capital into something more passive.

If the home doesn't sell for enough to settle the entire balance, the FHA insurance fund (assuming it's an FHA HECM, which it likely is) makes up the shortage.

@Jane Kim Thinking about a low down payment FHA loan for a pricey place in LA?

Many times the bank where you have plenty of funds in your checking and savings may offer a very good rate and minimal fees.