Quote from @Josh Shamoilia: Just a loan for one million FHA loan  So you are going to move to this new market and house hack one of the units?

In this scenario does it make sense to buy a triplex or 4plex in a less desirable/up-and-coming neighborhood , rent all units out while I continue to rent in center city/fishtown/UCity/NoLibs? 

We are now upon April 2024, and at the rate things have been going, still have a ways to go (finish ducting for forced hot air, insulation, sheet rock, paint, flooring, kitchens, bathrooms, finishes, and anything I am missing to bring the units to whole).

I used to rent 2 apartments on my property, but after Unit 2 tenants left in May of 2023, I decided not to re-rent Unit 2.   

If an institutional lender is happy at 50% LTV to a foreign national and the seller will supply another chunk of the debt (for example, 30% 2nd), you might end up in a fine situation for financing.4.

Out of 21,500 landlords (multiple LLCs = landlord network) 65% own only 1-2 units.

But yes you're right, one unit is rented out currently so I could work on some rehab in the vacant units and do things as I go on the other.But no, I was not aware those type of DSCR loans were available.

Fannie/Freddie do NOT allow:Texas Section 50(a)(6) Loan Security PropertyA Texas Section 50(a)(6) loan must be secured by a single-unit principal residence constituting the borrower’s homestead under Texas law.

So here we are 5 years in with 4 rental properties working with buyers and sellers most and looking to find partners for building small multifamily buildings, duplexes, triplexes, quads, rent them out, refinance and reapeat, buy land, build the unit, rent, refinance, repeat so we got a BLBURRR.

I own ~80-90 units near USC.