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? 

The way i see it is We are at the top of the market and you are located at one of the hottest markets in the country right now .

We are closing in on our next deal.  

I'm asking because we are looking for multifamilies in Phoenix and want to connect with other investors with similar goals.

The property is located 7 minutes from a university so we are hopping to be able to create more units in this desirable area.

Let me first provide a little context on where we are at with the deal and the overall condition of the property.My intention: Primary residence- 2 yrs, then rentalLocation: Denver, CO (Very high growth neighborhood, this deal was almost all dumb luck...)Condition: House is B Class, recently remodeled, 3br, 2ba, huge yard, carport, shed, new roof, everything about this house is above and beyond what I consider move in ready.Asking price:  $399,000Days on Market: 27My Offer: $375,00 (Accepted)Contingencies: Inspection, Appraisal and Seller allowed to live in the property for 9 months after closing while new build is being completed.The seller is in a position where they need capital to finance and complete the build that has already broken ground on their new home. 

We are evaluating investing in a couple of Brewerytown, Philly 3 unit shell properties.

We prefer non judicial states south of the Mason Dixon line, though we are branching out to some other Yankee states since notes are getting harder to find! 

Although we are on opposite ends of the county, feel free to reach out if you ever want to get together to talk about investing (or how California still might tax you for out of state investments).

Now we are sitting and waiting for multi-family deals which are starting to pop up once again.