If the only MFH options you're finding are in areas you're not comfortable with, it might be worth focusing on a duplex in a better neighborhood.Saving up for a larger property later is a valid approach too, but keep in mind that real estate tends to appreciate over time, and waiting might make it harder to enter the market later.

Hi Nick, welcome to the community!

7 Steps to Choose Your Property Type: Niche to Get Rich & Super-Niche to Get Super-RichHey BP Community!

Michael had built his portfolio from the ground up, starting with a single rental property.

Just a heads up  

It might make the most sense to just sell your primary residence and use it as 40% to 50% down payment on your future home. 

However, don't have any of those loans anymore (most paid off).The only thing I do that you don't, is use trusts, and love them and they have saved my bacon a number of times.When you said all those loans have paid off, are you utilizing other methods than Sub2 at this time?

I wanted to think of something clever, but wasn't coming up with much.

They are really changing the shape of the city and it may become incredibly expensive to buy out there soon due to lack of housing.

So it does appear to be possible to get an FHA 203k loan for a 5-unit & convert to a 4-unit.When possible, aim for the Limited (aka Streamline) 203k loan, as it's less complex, not required to get an FHA consultant, etc.Of course, this is based of the two following important assumptions:1)  zoning allows for this2)  and obviously I owner occupy for at least 12 months3)  the total purchase price + renovations are within the FHA loan limits specific to my areaWhat I'm confused about is the timeline or chronological order of the process?