I want to rent rooms for my property

[Chris Le]

I'm planning on purchasing second SFH property and renting how the rooms instead of the whole property. I'm 26 Y.O. , me and my wife live downstairs and the tenants live upstairs. Their rent actually covering my mortgage plus some profit. I purchase my home last year 2016 in Oct and wanting to know if purchasing another SFH to rent out the rooms a good idea. I plan to buy in Oct-December. I plan to have 5-10 rooms. Did anyone doing similar to what I'm planning to do successful? Is it possible to purchase as a primary residence instead of an investment property to get lower interest rate? Can I down lesser than 20 percent? Thanks all the info will be great!

[Chris Purcell]

@Christopher Phillips 

You couldn't be more wrong

@Chris Le

Buy it, move in and rent out all 10 rooms (legally) since it's owner occupied and the city/boro/town can't touch you.

I would say a net $4k increase per month in disposable income instead of renting would be a "path to riches"