Homes range from 250,000-multi-million dollar range.

We're learning a lot from each other and from BP, and we're pretty lucky to have each other and to have found BP.We'd like to house hack, so we'd like to get something like an in-law suite, or a 2, 3, or 4 unit multi-family residential property.

I am looking into Northern Westchester, Putnam and Dutchess and starting with Wholesales and Multi-Unit Rentals.

My main interest in this forum as I slowly transition from cubicle dweller to independent investor is to build up my network and contacts and perhaps eventually find the next opportunity.Other than RE I'm a computer nerd for my day job, other interests include building electric vehicles, electric vehicle advocacy, bicycling, outdoorsy stuff, and vintage land rovers.  

I'm in the process of saving money to make a decent downpayment on a duplex or multi-family to house-hack.

Find a good multi-family deal in New Britain, and Owner Occupied can get some good rates. 

I am looking to start with doing small multi-family buy and holds.

So we have been debating a couple options,1) Buy condo/townhouse (possibly without FHA) and then buy single family residence with FHA, move into the SFR and rent the condo2) Rent apartment, then search for a multi-family to buy and house hack3) Buy single family home and delay buying a rental due to save up for down paymentI would love to hear any advice or opinions on the options listed above (or any others) as well as, purchasing a property on a short time frame, and using a FHA loan on the second property instead of the first.

I'd prefer to use that as a downpayment to buy another whole investment property out of state.Based on those numbers (which also don't appear to include maintenance, vacancy, capex, property management) you'll be doing all of the work to flip a multi-unit property, and then keep it running with 4 tenants for <7% COCR?

If you are looking at a small multi-family of four units or less:Rent RollReview all leases, addendums, or other agreementsTenant payment historyAny violation notices, delinquenciesList of all maintenance in the past yearSchedule of capital improvements in the past 3-5 yearsUtility bill reviewP&L for current year plus the last 1-2Service contracts (landscaping, cleaning, snow removal, etc.)Inventory of all property owned by SellerThere may be more but this is a good start.