Starting out by purchasing a duplex
Hello everyone my name is Rocco and I am new to Biggerpockets. Ok, so my plan at first is to buy a duplex, occupy one unit and rent the other. Is anyone opposed or have any advice about this? This would be my first property and I would be getting an FHA loan. Property would be in either Delaware County, PA or Wilmington, DE. PA property tax is much higher in PA than in DE which is definitely something I have been thinking about. I do not have much money to put down on the loan, only the minimum 3.5% and closing costs if need be. The initial plan is to obviously have rental pay for majority, if not the whole mortgage payment. This will give me and my girlfriend an opportunity to save money, then in 2-3 years I would like to purchase another property. I am still new and doing my research to understand the language. If anyone has any suggestions or advice I would gratefully appreciate it. Until then I will continue to educate myself on this business to find out my best starting approach. Thanks!!