Realistic to find Multi-family in Maryland with FHA Loan?
Hi BP,
Is it possible find a multi-family home in Harford County, Baltimore County, Cecil County, or a safe place in Baltimore for roughly 150k to 200k that will pass FHA inspection requirements?
I've been viewing the multi's in these area's for months now, and it seems like none of them would pass FHA inspection requirements and would need work. I did find one or two in Aberdeen, but they wouldn't necessarily cash flow when I plug in all the numbers (Which, is that a bad thing if you just break even and can live rent free and bank your money for your next property?).
Anyone in these area's have experience or any luck finding multi's that can pass FHA inspections?
If finding a multi with my numbers is not realistic, has anyone in my area used a FHA 203K to purchase and live in a multi? Would like to hear your experiences if you have.
I'm ready to pull this trigger on my first deal, and any advice would be greatly appreciated.