To put 10% down on a 3-unit you would need to live in the property as it takes 20-25% down for a non-owner occupied 3 unit.

While you can’t completely control who applies to live in your properties, you most definitely can find areas that are popular with students, young professionals, families, etc. 4) just as important as finding the property, you need to have an exit strategy in mind for the property.

If so, have you ever done a buy and hold partnership deal that includes one partner invests and the other lives in as principal residence for 2+years during renovation and manages property until sale? 

You did not say where you live?

The only problem is I live 4 hours away and the home might need a-lot of capital to fix up and I don't know if the juice will be worth the squeeze. 

They want to confirm nobody is living in the basement.

As a new real estate investor living in the crazy expensive Bay Area rental market, I'm exploring clever ways to get into investing.

The Class A home is the one I lived in and now rented out - great tenant, very low crime, excellent school district.

Since you're planning on living in one of the units, you might consider an owner-occupied loan.

You can raise rents but there will be different lengths of time that you have to provide notice depending on how long the tenant has been living there.