Hey everyone, I am new to real estate investing and am thinking about buying a house then renting it out to cover the mortgage (not flipping). I am pretty set on this but don’t want to spend too much and then be unable to buy a house to live in a few years down the road. What are some things to think about when going through this process and is there anyone here who has successfully pulled this off and would like to share? Would greatly appreciate any advice, thanks!

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FHA loan would be your best bet for minimal down payment. Buy a multi-family, live in one unit and have tenants cover the rest. After one year, the terms of the loan allow you to move out and rent the entire thing out. Pull the equity out (if any) and roll it into your next property. This is the way!

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It’s not as simple as you think and it could become a money burn pit

What areas are you looking at

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Know rental comps in the area well. It could be risky if you're new

With interest rates over 6%, it’s hard to find properties that will be cash flow positive.

This ☝🏻

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