FHA loan on duplex in south Jersey

Hello, All!

First time poster here. I’m a skydiving instructor that is trying to get started in real estate. After spending a lot of free time on here and listening to the BP podcast. I’ve started searching for my first property.

I came across what I think is a deal in south Jersey. I would like to use the $10,000 I have saved and my 800 credit score to secure my first property and I would love some feedback/advice from the BP community!

It’s a duplex with the bottom unit (3br 1.5 bath) rented with a long term tenant. The top unit is a 2br, 2ba, recently renovated and currently vacant. This seems ideal because I could work nearby at a skydiving facility for half the the year, rent the top unit to a reliable co worker, and I could live in the second bedroom during the working months.

Ok so some numbers:

The property is listed for $165,000

Bottom unit is rented for $1,200

I was thinking I could rent the top unit to my co worker for $700 and have her take care of small things that needed to be done on the property during the time of the year I’m away.

I was hoping some of the bright BP minds could with some tips for 1st time buyers trying to use an FHA loan to buy a duplex.

Also any mortgage companies that might be worth looking into and interest rates that I could possibly expect.

Here is a random and maybe dumb question about realtors: Is the realtor that is under the listing for the house the only person that can show and write offers of the property? Or could I reach out to other realtors that I wanted to do business with and have them represent help me with the seller?

Annndddd....do I need to get quotes on mortgage rates and/or approved by a lender to have an offer written?

Sorry for the newbie questions, but what can ya expect from a newbie? 😁