How to live for free (or nearly free) by buying a multi-unit property in Florida with FHA or VA financing.
Written by Renzo Johnson, Licensed MLO · NMLS #PENDING · Last updated: February 2026
- Buy a 2-4 unit property, live in one unit, rent the others
- FHA: 3.5% down on 2-4 units (must owner-occupy 12+ months)
- VA: $0 down on 2-4 units (must owner-occupy)
- Rental income offsets your mortgage — potentially live for free
- Example: buy a duplex for $350K, rent one unit for $1,500/mo → your cost drops to ~$800/mo
- Florida markets with strong multi-family inventory: Jacksonville, Tampa, Orlando
- Build equity and wealth while reducing housing costs
- After 12 months: move out and convert to full rental, buy another property