My personal home almost doubled in value in 2 years and while many markets have gone down the last 6 months, we've been mostly flat.  

Is your goal to keep buying and expanding your portfolio?

I appreciate your responses and will keep searching Facebook!

Was this property ever rented or just always used for personal use?

Some people don't like having others around but I've found I really don't mind it if I choose the right person.  

You could do that for 3-5% down.. live in it for a year to meet typical requirements for use… then move into a new house, and ‘voila’ - you bought your second (multi-family) rental for 3-5% down instead of 20-25%.It is entirely possible though that you will face debt to income issues on your first rental if your lender wants to see a year or twos worth of rental history before counting your rental income to offset your debt payments…so beware of that.Otherwise you may have to look at creative financing… maybe bringing in a money person where it was a short term investment for them, like “I’ll give you 8% on your money (versus the 4-5,% you could earn from the bank CD) if you will partner with me on this purchase.”

If the new builds are larger and you do not need to do any work, that would be the option I'd choose personally. 

I also personally know a builder who can construct them for about 250k each.

Keep us updated as you analyze deals and how it works out for you!

Your offer should match the type of person they are.