Good way to start out...

[Chance Swan]

Hello everyone,

I am new to bigger pockets and I am looking to buy my first rental property. This will also be a property that I move into. I was thinking of buying a small town home and live in the basement with my wife and rent out the upper house to cover the mortgage. I am from the Salt Lake area. Would anyone be willing to shed some more light on actions I should take? I have a pretty good gameplay but I would like to hear form all of you as to what your course of action would be.

Thanks,

Chance 

[Michael Boyer]

Like the idea Chance, but you might look for a properly zoned, up to code, duplex with a separate units (entrances, meters, addresses, etc) just to get a clean start. 

Or use a single family with an accessory apartment and make sure the accessory apartment is also done properly and permitted (and maybe put the renter there, not you)..... 

Same basic theory of living in your first rental but done properly without the messy part of being in the basement bootleg rental, having shared areas, utility issues, potential HOA restrictions, awkward meetings in the laundry or entrance, etc.

Best of luck