Start out with multifamily and take it from there?

[Michael Giaquinto]

Hello everyone. I’m new to rei and am planning to purchase a duplex or triplex when the opportunity presents itself. I currently have a basic strategy from the info I’ve learned so far on bigger pockets. 

So for starters I’ve made 40k last year and about 60k this year. Last year I wasn’t deep into investing but wanted  a property and got a quote for Rocket mortgage but they couldn’t give me a big Enough loan. 

This year however I may be able to get a bigger loan with a little bit bigger income. Also I learned about things like FHA loans and 203k loans from bigger pockets that could come in handy as I am a first time buyer. my credit is good so I hope getting a loan shouldn't be a big problem.

My plan and criteria for this goal is this. I want to live in the smaller portion of the property and rent out the others. I want to fix what needs to be fixed hopefully myself if not I can ask for help. I would like to live rent free with the cash flow.

I live in Staten Island Ny and would love to stay in Staten Island or even the outskirts of the island.

I was thinking of connecting with a realtor for now and would like to use a check list from bigger pockets to screen them and make sure I have the right person. 

I’ll use the analysis calculator to make sure the home is worth it.
Once I get the home I can use craigslist or the realtor to rent it out.  

During the my stay I will learn about being a landlord and a home owner which will give me more experience for future investments. 

Main questions: 

Is this realistic especially in my demographic? 

Decent basic plan? 
Any tips?