I'm 26 yrs old and living in my parents house (3 bed, 2 bath, ~1300sq ft) in a relatively low cost area for NOVA (Woodbridge VA). 

If you're living in one of the units you're likely able to insure the property on a standard homeowners policy with some added endorsements. 

If you intend to rent the property out after you live there for some time (fha is a year I believe), I’d focus on items that are going to attract the biggest pool of renters when doing repairs.

He lives in another city and told me to find a local attorney.

If the rehab isn't that extensive meaning you can live in the triplex you can also try financing as conventional if you qualify as you would only need 5% down.

@William Hinsche I personally enjoy looking for multi-family in 43212, 43201, 43202, 43215, and 43235 as these are are areas that I would live in myself to buy and owner-occupy.

I have invested my life savings in real estate to earn a living, save for retirement and build wealth for my family. 

I am under contract for 3 properties, however there is one thing about it, one of them, its located in South Memphis zip 38109 (Mallory area).I know I know I live in Memphis, I know that the area is bad, however I am feeling that the market it pushing investors towards the hoods of memphis because it is getting expensive (even Frayser is getting crazy expensive which I find crazy), I did a few visits in that specific neighborhood and I honestly didn't feel it was really really bad as the rest of South Memphis, I am really not worried about tenants paying on time in my rentals because I always focus on Section8.Was wondering what are peoples insight in regards to investing in those areas with section8 tenants?

I live downstairs and claim this as my homestead.

Better down payment options, you live in the property you rent which makes management 30X easier.