It was a fixer-upper.

Looking to BRRRR our new place so I want to buy a livable fixer-upper, stay for a yearish, then continue.

I did some driving for dollars in the area my cousin lives and there are a lot of distressed properties so there's definitely opportunity for fixer uppers.

Or go conventional (Navy fed has 5% down no pmi) and qualify for a higher loan amount but ultimately I want to find out about how to get a rehab loan in order to buy a fixer upper that I want to live in.

My ideas: Focus on fixer/upper complexes.

The forums are a great way to get your questions answered and to connect with folks in your area(s) of interest.I highly recommend using the search icon in the upper right corner.

I currently work in the Upper East Side and ideally would like to keep the commute under an hour. 

It’s mainly middle to low upper class in most cities.

Many of the fixer uppers are listing and selling for nearly what I'd assume is their ARV so I'm not sure how someone is making profit from them, but I guess I'll wait and see if they pop up back on the market in a flipped state to see...I work 90 minutes away, and trying to coordinate contractors is a full time job in itself out here... so until I get some experience and some reliable networking done, I think I'd only lose money and time trying to coordinate a flip or BRRRR.I'm happy with a 9% CoC return for the most part, as long as it's secure and stable.

Since I am owner-occupying I could shoot for making it an ADU and living in the upper unit, but if I could do the triplex conversion without additional headache I think it'd be worth it.Another complicating factor is that this is an old property and the electrical is not up to code.