Met a young couple last night at an investor meeting in Charlotte... MetrolinaREIA. They were talking about purchasing a home and in a couple years having it be their first rental... We discussed a mixed use building as a starter home and units all at the same time. Maximize the rental property aspects if they are gong to be an investor. Living in the property makes it a big advantage to the 'hands on' owner. it is important that we get these new investors thinking a little differently than they sometimes want to. good luck... by the way, this is a great way to get involved in the 203k.
Owner occupants can use the FHA 203k while investors and second home buyers should use the FannieMae HomeStyle Renovation loan program (SFRs and small income units only).
A mixed use building could be a windfall for anyone looking to get into rental units down the road to supplement their income. Contact us to see how this may work for you in Charlotte NC or anywhere else for that matter.