So I got about 40k USD cash  and am 23 years old, that I have been saving up for about half a decade and I plan on moving out of my parents soon. I don't pay rent/electricity etc. at the moment and essentially pocket my paychecks. My question is should I continue saving up about 50k-70k to by my first house in cash and not take out any loans that I can live in and should it be a single family home or a multi family home? I like the idea of buying a duplex and renting out the other side. I like the cash flow on something that I pay for in cash and don't take out a loan for. Do you need like land lord insurance if your tenant burns down your house or something?

I'm just wondering what the suggestion is if I can move out whenever I want and saving up cash isn't a problem or a time limit constraint on saving up for it. If I should wait until I have enough cash to buy a duplex or a single family home?

In the area I'm looking at that has a crime rate less than state average, you can get a duplex or single family home sometimes for 40k - 70k. Most of the time there's no appliances but that's ok. Most of them need cosmetic work to but are completely structurally sound and safe to live in.

I'm unsure of all the legal matters of renting out a duplex if the tenant doesn't pay rent or destroys the place, and having to get evicted. All the legalities of renting out a place is all foreign to me. And horrible tenants seem scary.

Thanks for advice.