Also, I don't plan of moving to the area until October (work reasons), so I have to time to find and analyze properties before I pull the trigger. 

YES, you run the risk of triggering the DOS clause unless you have the ok from the bank. but you can absolutely do a live in brrr strategy.. just make sure the property deeded in your name

I'm not yet in that position to be able to do such transaction but I have the system in place that will streamline our workload just need to pull the trigger.

My family there kept bugging me to buy, but I just couldn't pull the trigger.

And there are competing levered lending funds with different structures where their accountants and auditors have determined that they are triggering UBIT and/or UDFI."

Priority #1: You don't want a random stock market hiccup that temporarily reduces the value of your holdings by 15% to cause you to miss out on a great deal.In general the BP community likes to take on risk so this will fly in the face of that, but IMO certificates of deposit are the best holding vehicle for down payment funds if you are still a year or more of savings away from being ready to pull the trigger.

Just do your research before pulling the trigger and make sure you have some cushion in your numbers.

I would have not been confident to pull the trigger on my next purchase of a 6 plex without that duplex.

Pull the trigger once you find another investment OOS or in SD.

It's tempting to pull the trigger so that you can do a deal for the sake of doing one.