It will likely depend on whether it's owner-occupied (do you live in it as your primary residence?) 

Using your primary residence as your own personal HELOC bank for BRRR strategies is very enticing.Tim SmithKennewick, WA

Andrew to be fair I think the buy a house with instant equity ship has sailed unless they are like you and these investor reside there have the ability to source pay cash hire their own crews etc and thereby EARN equity..

The property I purchased was originally my residence and it now a rental but for all intents and purposes I am brand new to real estate investing.I would love to hear from those who have used either of these strategies or any alternative ideas.

I purchased my primary residence with the intention of house hopping and renting it out, before i discovered BP.

You can use an FHA on up to a 4 unit residence. 

Will they be residents, are they relatives, etc.

For tax purposes I made my principal residence 50% and rental investment 50%.

Hannah,If you private message me, I am happy to share our rental application and resident selection criteria.

Every primary residence I have purchased, I have required a survey.Going forward, would you recommend surveying future properties?