Updated almost 13 years ago on .
RDA or FHA loan?
I have 12k saved up from working my job and am approved through a family friend who is my mortgage broker for a home up to $175k. He is recommending using the RDA loan but I'm nervous about the regulations against renting out the home. I've been looking into either getting a multi-family home, or buying a single family home ideal for renovating into a multi-family. Having legitimate rental income coming in from the property as I'm living in it sounds very appealing as a way to get my feet wet in investing. I know the RDA loan is only for single family homes but I like the idea of renovating an ideal one into a duplex. Please anyone with experience recommend me into a direction where I can start investing in the strongest way possible with my current financial situation. Thank you all.