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For so many reasons, the safest way to begin is with your personal,
owner occupied, and primary single-family residence. Consider selling
your existing home to get the equity out, move out in a temporary
apartment and find a great deal on a fixer upper.
You'll be able to get a mortgage with terms you would never be able
to obtain on investment property.
Many people make the mistake of going overboard on the rehab.
You've seen the guys who knock out exterior walls to change a normal
closet to a walk-in or find a house with termite damage, whatever.
I like the old southern maxim of "carpet and paint, brain surgery it
ain't".
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