My Advice? Buy a 4 plex
Community First Financial talks to hundreds of investors every month and there are some thoughts I would like to share with you on our experiences with investors, particularly first time investors.

One of the top questions I hear from investors is, What would you do?
If I could start my investing life all over again I would buy a FOUR PLEX as my first home. And when I say first home I mean first home. Most people buy their single family house, live in it as their primary house, then look to buy their first investment property. For those that are flexible and motivated I suggest you buy a 4 plex as your first primary home and investment property.

Here is why owner occupied 4 plex makes sense:

Qualifying for a first time home buyers loan on a primary residence easier.
You need less money down.
Rental income helps qualify.
You now have a primary home and an investment in one transaction.
Potential cash-flow or you could pay for your primary unit with the other three units cash-flow.
When you decide to move you have a 4th unit that becomes a rental.
On site property manager.

Highlights of the loans available on a 4 plex (primary residence):

Up to 95% financing
Loan amounts to $801,950
Only 3% of borrower's own funds/ 2% from flexible sources
Only 660 credit score
2 month asset reserve requirement

This is also a great idea for individuals that have kids that are in need of an idea on how to get started in real estate.

Troy Schuricht
COMMUNITY FIRST FINANCIAL, LLC
7575 E Redfield Rd Suite 235
Scottsdale, AZ 85260
480-305-8905 - office
480-393-8801 - fax
http://www.communityfirstfinancial.com/
http://www.yourlendertroy.blogspot.com/
http://activerain.com/tschuricht