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Updated over 1 year ago,
Getting started question
Hi! My teenage daughter and I currently live in a 4 bedroom, 3 bath home in a great neighborhood. She'll be headed to college in a few years, and I'd really like to downsize when that time comes. I was thinking about building or buying/remodeling a duplex. I'd live in one side and rent out the other. I was wondering if this would be a good way to break into the rental market? My ultimate goal is to have a few long-term rentals in older, middle class neighborhoods. I would probable live in the duplex for a year or two, then buy the next home to live in and rent out both sides of the duplex. I would appreciate any advice you could give. Thanks!