M/T/I on our house is 2060 per month and we get 2000 for rent.

However, with not having much savings, I am wondering if it is wiser to get an FHA loan with 3.5% down and the required mortgage insurance premium (1.75% I believe)  or live in a rental until I can afford the 20% down payment to reduce my interest payment on a conventional loan.

If you can't afford a few grand then you really are never going to make it anyway.even if you are out their on your own to be proficient you need to spend money on your own advertising etc. access to MLS  and used correctly alone will pay for the license many times over.. and you never know when you may become a rock star agent top end agents make far more money than 99% of wholesalers you will listen to on this site especailly the part time investors  LOL.. they are part time for a reason.. they are not RE professionals.

A little more details would help.thanksJavier T.

Yesterday I looked a t a budget sheet from 5 years ago and realized I have doubled our income in 5 years.

“While rising prices are lifting home owners out of negative equity, the strong price recovery amid the modest growth in incomes is also making homes less affordable and dampening demand.”Source: “REALTORS® Expect Price Growth Moderate in Next 12 Months,” National Association of REALTORS® Economists’ Outlook blog (Oct. 5, 2015)

If you can't afford to do this (i.e., you need this money to live from), it sounds like quite a risky proposition.Anyway, at the end of the day, there really aren't any rules, only general guidelines and suggestions.

I have been afforded a lot of up and downs highs and lows with doing this level of investing.

If I were you I would just go and have a talk with the guy, find out if he is just cheap and thinks hes not hurting anyone or if he is broke and this is the only way he can afford power.Maybe just go and explain to the guy that what he is doing is stealing and if he doesn't stop and get the power turned on in his name you will have to take this to a more serious level.

Hi,This is sort of a unique question that I've been struggling to find guidance to online.  First, my situation:  I own a four-plex that I purchased in May that I do not, nor have I ever resided in.   Outside of our l...