I would like to acquire the next 3-4 properties using owner occupied financing where I will live at the property for 1 year, then convert it into a full rental, and buy another property to live in, and repeat that a few times. 

We plan to buy in other markets eventually with fund #2 (in the $20M range).

Converting sellers is a numbers game.

I've been trying to catch a dentist or someone who wants to convert to office space, but I'm fine with a salon.

Our individual strengths and weakness allowed for us to equally balance the responsibilities of finding and eventually purchasing an apartment complex.

FHA loan) and "house hack" for a year and eventually rent the property out.

We converted it into a rental and pulled out a HELOC to purchase this duplex with an FHA loan.

Purchase price: $113,000 Cash invested: $10,000 Sale price: $225,000 Duplex converted to Single Fsmily

Eventually you get to enough units where you don't need cash reserves per property but rather one lump sum and for the most part rent from other units pays maintenance on the one that needs a roof. but if you wanted a cheap answer, I'd say save up until you have about enough to replace the roof and stop there.

TIAI eventually will need help in refs for kick *** real estate agent, property manager and contractor.