This is one of the best ways to get experience with real estate investing. By living in one of the units you get valuable experience to all aspects of being a landlord. This will only help you in your investing career whether you choose to manage your own properties or outsource it to a property management company.
Once you buy a 2 unit property and feel comfortable managing tenants later on you might want to make the jump to a triplex or fourplex.One drawback to FHA purchase offers is the seller must fix any discovered repairs by an FHA appraiser before the lender approves the transaction. This is why many sellers with real estate agents choose a buyer with a conventional loan. Howver, if the repairs are minimal in cost and your purchase price is a good deal, you may want to negotiate with the seller regarding the repairs.
| County | Duplex Price | Duplex loan limit | Down Payment | Triplex price | Triplex loan limit | Down Payment | Fourplex Price | Fourplex loan limit | Down Payment |
|---|---|---|---|---|---|---|---|---|---|
| Sources: FHFA & Fannie Mae. Loan limits are current as of . | |||||||||
| L.A., Orange & Bay area | $1,450,000 | $1,472,250 | $50,750 | $1,717,000 | $1,779,525 | $62,265 | $2,134,190 | $2,211,600 | $77,410 |
| San Diego | $1,167,000 | $1,288,200 | $45,100 | $1,450,000 | $1,557,150 | $54,500 | $1,850,000 | $1,935,150 | $64,1570 |
| Inland Empire & other counties | $1,000,000 | $981,500 | $35,00 | $1,100,000 | $1,186,350 | $55,000 | $1,350,000 | $1,474,400 | $67,500 |
| County | Duplex (2 Unit property) | Triplex (3 unit property) | Fourplex (4 unit property) | |||
|---|---|---|---|---|---|---|
| Sources: FHFA & Fannie Mae. Loan limits are current and effective as of Dec. 8, 2022. | ||||||
| Alameda | $1,472,250 | $1,779,525 | $2,211,600 | |||
| Alpine | $644,800 | 779,750 | $968,150 | |||
| Amador | $637,950 | 771,125 | $958,350 | |||
| Butte | $637,950 | 771,125 | $958,350 | |||
| Calaveras | $637,950 | 771,125 | $958,350 | |||
| Colusa | $637,950 | 771,125 | $958,350 | |||
| Contra Costa | $1,472,250 | $1,779,525 | $2,211,600 | |||
| Crescent City | $637,950 | 771,125 | $958,350 | |||
| El Dorado | $637,950 | 771,125 | $958,350 | |||
| Fresno | $637,950 | 771,125 | $958,350 | |||
| Glenn | $637,950 | 771,125 | $958,350 | |||
| Humboldt | $637,950 | 771,125 | $958,350 | |||
| Imperial | $637,950 | 771,125 | $958,350 | |||
| Inyo | $637,950 | 771,125 | $958,350 | |||
| Kern | $637,950 | 771,125 | $958,350 | |||
| Kings | $637,950 | 771,125 | $958,350 | |||
| Lake | $637,950 | 771,125 | $958,350 | |||
| Lassen | $637,950 | 771,125 | $958,350 | |||
| Los Angeles | $1,472,250 | $1,779,525 | $2,211,600 | |||
| Madera | $637,950 | 771,125 | $958,350 | |||
| Marin | $1,472,250 | $1,779,525 | $2,211,600 | |||
| Mariposa | $637,950 | 771,125 | $958,350 | |||
| Mendocino | $637,950 | 771,125 | $958,350 | |||
| Merced | $637,950 | 771,125 | $958,350 | |||
| Modoc | $637,950 | 771,125 | $958,350 | |||
| Mono | $637,950 | 771,125 | $958,350 | |||
| Monterey | $1,177,750 | $1,423,650 | $1,760,400 | |||
| Napa | $1,302,900 | $1,574,900 | $1,957,250 | |||
| Nevada | $637,950 | 771,125 | $958,350 | |||
| Orange | $1,472,250 | $1,779,525 | $2,211,600 | |||
| Placer | $637,950 | 771,125 | $958,350 | |||
| Plumas | $637,950 | 771,125 | $958,350 | |||
| Riverside | $637,950 | 771,125 | $958,350 | |||
| Sacramento | $977,550 | $1,181,650 | $1,468,500 | |||
| San Benito | $1,472,250 | $1,779,525 | $2,211,600 | |||
| San Bernardino | $637,950 | 771,125 | $958,350 | |||
| San Diego | $1,288,200 | $1,557,150 | $1,935,150 | |||
| San Francisco | $1,472,250 | $1,779,525 | $2,211,600 | |||
| San Joaquin | $637,950 | 771,125 | $958,350 | |||
| San Luis Obispo | $1,189,550/td> | $1,437,900 | $1,786,950 | |||
| San Mateo | $1,472,250 | $1,779,525 | $2,211,600 | |||
| Santa Barbara | $1,073,250 | $1,297,300 | $1,612,250 | |||
| Santa Clara | $1,472,250 | $1,779,525 | $2,211,600 | |||
| Santa Cruz | $1,472,250 | $1,779,525 | $2,211,600 | |||
| Shasta | $637,950 | 771,125 | $958,350 | |||
| Sierra | $637,950 | 771,125 | $958,350 | |||
| Siskiyou | $637,950 | 771,125 | $958,350 | |||
| Solano | $637,950 | 771,125 | $958,350 | |||
| Sonoma | $1,123,300 | $1,357,800 | $1,687,450 | |||
| Stanislaus | $637,950 | 771,125 | $958,350 | |||
| Sutter | $637,950 | 771,125 | $958,350 | |||
| Tehama | $637,950 | 771,125 | $958,350 | |||
| Trinity | $637,950 | 771,125 | $958,350 | |||
| Tulare | $637,950 | 771,125 | $958,350 | |||
| Tuolumne | $637,950 | 771,125 | $958,350 | |||
| Ventura | $1,221,950 | $1,477,050 | $1,835,600 | |||
| Yolo | $637,950 | 771,125 | $958,350 | |||
| Yuba | $637,950 | 771,125 | $958,350 | |||