If I wanted to build an owner occupied 4-plex on land which I could subdivide and build multiple units (4-plexes) would I be able to live in a unit for 1-2 years, refinance to a conventional loan, and apply for another FHA loan with 3.5% down to build a second 4-Plex to live in for another year or two?

I was hoping to put as little down as possible, and then refinance into an owner-occupied conventional loan once it's built.

Looking to take advantage of an FHA and owner-occupy for a year.2) Network locally (Chicago or NWI)3) Find multi-units to BRRRR and manage personally.That's about it for right now! 

Looking to take advantage of an FHA and owner-occupy for a year.2) Network locally (Chicago or NWI)3) Find multi-units to BRRRR and manage personally.That's about it for right now! 

Things (in general) are less likely to fall apart if agents are involved, assuming this is a normal owner occupied deal.

I agree with Hai - you should also consider an FHA loan, as you can still get one for up to a four-plex (as long as you owner-occupy it for at least 1 year).

I heard about a home whose occupied homeowner is behind on taxes.   

So if you have occupied thus house for at least 2 out of 5 years, you might want to sell.

Luis,you can't use VA loan to rent it out. the VA means you need owner occupy. second, if you are looking for long term rental, you need to look at the job market in PR. 60% of people are on state assistance and not working.

My condo fees are $285.00 a month, property tax is $101.50 a month and utilities usually run $100-150 a month.I currently occupy this condo but am timing my savings to have enough for a higher % down payment on a larger property by the time my condo is 20% paid off.