I was wondering if it was possible to use an FHA loan to buy a 4-plex, live in it for a year, and downgrade every year to a triplex, then duplex, and single family home to take full advantage of a low down payment on rental properties.

View report*This link comes directly from our calculators, based on information input by the member who posted.Hi, I am interested in purchasing this duplex as a rental property.

My background is in Finance, Valuation and Strategy and I have spent most of my time working in corporate, as well as one year on Wall Street... which all equates to not much real estate deal experience.I am most interested in wholesaling, BRRRR strategy, and finding a financial way to take down some large cash producing assets/portfolios.I am looking forward to gaining and sharing knowledge with everyone.

. :)) Recently I saw a CL add in my area that MFH owner was selling one unit of a duplex , so the question ; if I personaly own let’s say a fourplex or that might be owned by my LLC , can I sell one or two units to other people and keep the rest ?

The package consists of 2 duplexes which the one needs minor work, and it also contains a house which will need 15-20k worth of work.

$649k will be hard to come by for a duplex in SD that is not in complete repair condition, although if you are willing to sacrifice location you could probably find what you are looking for.

Had he paid $75 cash for 2 new duplexes back in 1972, which is what they went for, he would have another $1.5 million when he passed.

Just from eye-balling this it could take me years to save enough for a down payment for that first property..I'm lost at how to get started in this.My idea for my first property was to buy a duplex, fix it up a bit, and house hack it.

My first home I purchased to live in was a duplex, and at that time also had a triplex that I rented out.

I am currently in the process of purchasing my first duplex and the property comes with an inground pool.