Buying a duplex/triplex and living in one unit/ renting 2nd/3rd unit
I am 22 years old college student with a 90k salary with almost zero debt and a free college education.
My wife and I max out our IRA contributions monthly, and we're considering real estate investing in order to put to work our excess savings. I have a VA loan with 0% down, no PMI and a 3.4% APR on a 30 yr with no property taxes owed (as long as I am a primary resident) and almost no closing costs because I am 100% service connected. Something like $2,500 on a 200k purchase.
So I think we are in a particularly good situation.
We're considering buying a duplex/Triplex and living in one of the units for the next 5 years or so. With plans to purchase more rental properties in the future. I have done a strategic evaluation of our particular rental market and It looks promising.
I'd really like to know if any one has any insight into something like this? Any immediate red flags or constructive criticism's come to mind. Has anybody done something like this to start out? Are their questions I should be asking myself that I am not?
Any Advice would be very much appreciated.