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215k per year salary. Want to buy my first home a Duplex

Hello all looking for some advice. Single guy here looking to purchase my first home. I earn about ~215k per year. Savings will be at about 80k. No debt, no student loans, no credit card debt... my monthly bills and living expenses are currently $700 bucks. Plus food & entertainment etc. credit score is about 790. No children, no wife. So I will be doing this alone.

Im looking to buy a duplex. I live near a major city with high cost of living. Seems like duplexes in my area range from 700k to 1 million. 3 bedroom apartments within duplexes seem to rent from anywhere between $2300-3000.

I have not gotten pre approval yet. Does anyone have any insight into how much duplex I can afford, given that I rent out one of the units.

I’m thinking I should qualify for the FHA loan with the 3.5% down.

My alternative to this would be to get a basic condo and just pay the mortgage and HOA fees myself and keep things simple. But I feel like getting a duplex is a better financial decision long term. I don’t mind being a landlord to 1-2 tenants.

Any input appreciated thanks !!

submitted by /u/8thCVC
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source https://www.reddit.com/r/RealEstate/comments/luut3y/215k_per_year_salary_want_to_buy_my_first_home_a/
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