However, I am thinking of having my parents who are retired living there part of the year and doing STR for the remainder of the time.

Strengthen Your ProposalDevelop a Business Plan: Include:Vision: Your goal of creating a micro-home community.Market Research: Show demand for affordable or small-footprint living in your area.Financial Projections: Break down costs, ARV, and anticipated ROI.Experience: Highlight your previous fix-and-flip and demonstrate your learning curve.Present a Solid Development Plan:What is the size and scope of the project?

Sometimes tenants bite, sometimes they don’t, but it’s worth a shot.Owner Move-In: If you’re planning to live in one of the units, you might be able to legally take it back.

I currently live Wisconsin and work in Real Estate.

I'm imagining something more like add a wall, turn a bedroom into a kitchen-living on one side and a formal dining room into a bedroom on the other side, maybe add a half bath in each unit.

Real estate is easy to get into, but hard to earn a living. 87% of all agents quit within two years because they don't make enough money.

I live in California (Central Coast) and have built a 12-door portfolio in Detroit, which has been a great market for both cash flow and long-term potential.Detroit still offers properties well below the $150k mark, with strong rent-to-price ratios and a market that’s seeing growth in key areas.

I'd highly recommend house hacking in your local market since you're in one of the highest cost of living areas in the US, especially if you're renting currently and planning on staying in the area for 5-10 years.It sounds sexy to go out and invest out of state for your first property.

Quote from @Rou Odab: Hello everyone,We bought this house, and we're living in it and renovating it.

I actually live Pinellas County.