Using an FHA to purchase a multi-family home in San Francisco

[Travis Knight]

I was looking at MFH's in Texas where I'm from, because I can't afford a home where I live (San Francisco). Then I stumbled across FHA loans (silly I hadn't thought of this before).

So, instead of purchasing a MFH in Texas, I could potentially purchase a MFH in San Francisco, and live in one of the units. It wouldn't produce cash flow, but it should lower what I'm paying in rent (other tenants subsidizing my rent), while *hopefully* building some equity through appreciation.

Is this a crazy strategy?