Noob Questions that I haven't found- From a Noob

[John Jimenez]

First off, thank you all for taking your time to read my post. Due to my own personal goals, these questions lean more towards buy and hold investors.

1) How long will it take to close on a duplex on average (If possible I am curious about NJ)

2) If the duplex has tenants, how would you "remove" them to house hack, is that even legal? 

3) Does anyone regret buying a duplex, when they could have bought a 4plex?

4) IF the market does "crash" (is crash the correct term?), how would that effect my goals of purchasing a home to buy and hold? (Not trying to imply that it is heading that way, just wanting to be prepared)

5) Does anyone have any experience using a VA loan that would want to share how it went? Would a FHA be a better option than a VA loan if I have intentions of house hacking a duplex?

Once again, thank you for taking your time to read my questions/concerns and for any input you may provide.

-John Jimenez

[Bryan L.]

John Jimenez the others have answered your questions well except for the VA loan question. If you qualify and have your VA certificate for eligibility definitely use it. Also, thank you for your service if this is the case. The VA has definite advantages over a FHA loan in that it is 0% down, no PMI, low fees, and the seller can even help you to pay off debt as part of the sale to help you qualify. The only concern is that you would be highly leveraged with 0% down, but if you buy right that shouldn't be a problem. Find a lender that specializes in VA and get to work. Good luck!