Unfortunately this is not something that interests me and if I was to end up with this property, I would either leave the garage as is or undo the kitchen work.This would be our permanent residence for now, but the goal would be to either rent it out in a few years, or just sell it if/once it has appreciated to some extent.I have a hard time working this into the valuation of the house.

A good deal.Price was low, cash flow was high - but as i already had bought two units this year i had not build up too much Equity so i was not able to find 30 procent free cash....But i could not forget those two units...I believe i read somewere in this site on some of the good rules when you buy properties;If you cannot find the free cash there might be something Else you have that the seller would like to have....from you instead of cashIf there is something you really want to have... you might have to give something Else up... to get what your goal is...To make this deal happen -and as i did not have the free cash - i started thinking of what did i have - with value - and i was willing to Trade in this deal...I ended up trading in my lovely BMW :o) :o)The point is, that if i did not read these posts on this site - i would never had got the idea of Trade my car into a property deal.

I can understand you want to recoup your investment by doing the cash out refi, however your goal should be to also cashflow after the Refi. 

It may be a bit of a more distant goal, but if I tried to do it sooner than later, it would be closer to 20% down, unfortunately.

The eventual goal would be to rent out both units, but I need the FHA to be able to afford the down payment on the property.  

My goal is to replace my family's income through real estate cash flow in 10-15 years.

July 14th at 7:15 am. at the Ihop (B) in Hixson. (5113 Highway 153, Hixson, TN) We would love for anyone to meet with us to discuss your goals in real estate and see if we can help one another on that path.I'm a big fan of miracle morning teachings and this is what me and my friends have decided to start doing on a bi weekly setting with the location changing from time to time.

I am also interested in multifamily property investment to supplement my income.Just reaching out because from reading your posts I feel we have very similar situations and goals!

Our long term goal is to build a portfolio of buy and holds.  

My husband and I have made it our goal to purchase our first rental property by the end of the year.