We're in the saving phase and we're about 1/2 way to having a nest egg of 6 months of expenses.

I have been doing a very slow crawl (while I clean up past financial mistakes & save cash for future successes) to get into the investment side, but have been working to gather some priceless experience along the way.We purchased our first home in 2005 and that became our very first rental in 2009!

I can pay for the downpayment via my savings, but the property appears to need a full rehab for both units. 

I could just put it all on a credit card and try to pay it off over the next few months with my personal savings, but I could also try to either borrow or add it on to the purchase price.

Its not highly likely and will set me back 3 years worth of savings.

I then save or scan everything to an encrypted drive and shred any paper. 

I’d say sell that property before something goes wrong then go back to square one, save up for a down payment and ample cash reserves for when something inevitably goes wrong, establish 2 years solid and consistent income, build credit, find a bank to work with and start over again in a better asset class.

But I don't see another way to resolve it at this point.Thanks so much for any advice.

Hello BP,Currently resolving why my profile picture options are always slanted, but other than that excited to be apart of BP. 

Our savings rate is high but we haven't bought a permanent residence yet.. 1. because our rent is so cheap 2. because we are weighing the options of purchasing a multi-family apartment or something similar 3. because we are a little bit scared of the process.Should we start by purchasing ourselves a home, live in it, fix it up and put it on the rental market or go ahead and start looking for a multi-family unit to purchase with the possibility of living in one of the units & using an FHA 203k loan?