A great idea for building equity in your home is to buy a 2 family or multifamily home and live there. Owner occupiedhomes are often in better conditionbecause the owner lives there. It is much easier to maintain the home you live in rather than drive across town for a simple fix job. It also allows you the ability to build equity much faster than a single family home.Consider this strategy. Use a 30 year fixedmortgage to have a lower monthly payment and put as much as possible of the rental income toward paying down the mortgage. Make sure that you can comfortably afford the mortgage without the rental income. If you have times of lower income you also have the leverage of a good tenant's rental income to assist you with your mortgage payment. Looking for a 5 or 6 bedroom home Consider a two family home.