Hi All,I am looking to buy a SFH in the 400-450k range in the DFW area, looking to put 20% down, I plan to live in this home for 1-2 yrs before turning it into a rental.

Assuming of course that your budget is ok with that approach...you'll have to run the numbers and see how long it takes to make back your investment, and if that is in line with your future plans....

Understanding their objectives is critical since it influences the whole investment plan.

I would prefer to make a business plan to target a small grocery store property.

My plan is to renovate my current home, turn it into a rental, and purchase another property to live in for a few years, likely a fixer-upper.My current home needs around $25k in renovations before it's rent ready.

or should I ask for a 600k loan and lay out my plan to my mortgage  broker?

We sold a Triplex last year for $505k and a recent Duplex for $421k+/- both received healthy seller concessions and planned to be owner occupied utilizing rents from the other units to reduce their costs of living.

If "commercial" is here in a future land plan, then the public approvals will likely go smoothly. 

@Braden Jackson WOW...great plan and good position to be in.Lots of different options depending on what you want to do and I would also think your credit score is a huge determining what loan you get.#1...probably right now you best bet is to buy a 4-5 bedroom if you can and rent bedrooms.

I am planning on starting out in the Kansas City, MO area.