Hey,If "building class designation" is the same as zoning, then this seems like it can definitely be appraised as a two family, with both the legal and actual designation as a two family.Depending where in NYC, that may not help your valuation, as primary residences sometimes sell for more than investment properties, so check that out before challenging the appraisal and definitely before paying for another one.Double check all this with your lender/broker as well.Best of luck!

@Jackson Harris as long as your definition of MF is duplex, triplex or quads AND your willing to live in some of the tougher (or at least, less desirable) neighborhoods AND you have patience your plan can work.

Please note: I will definitely be self-managing, so please don’t suggest that I hire a local PM.

It's a 4 bedroom 4 bathroom house in a Auburn AL which is definitely a college town (though I do not refer to it as a student rental).

Besides we're hospitality people, not selling property or leasing it long term, and somewhere along the line a few states got their definitions very very mixed up!     

Hey Lolo,There are definitely some less-than-stellar property managers here in Columbus.

Wildfires by their very definition can be started by human activity. 

:))Here is one of flips Scott shows that definitely needed a rehab, but he sold it without touching it: How I sold a $36k Slow Flip for $169k in Virginia

I’m definitely open to exploring various options, markets, and areas.

I think the freedom of not paying your primary mortgage would be a huge stress relief and allow you to deploy cash quicker in the future and feel safer taking risks when you know your own living situation is covered.On the rental side, I know the magic ingredient in real estate is time and the sooner you get properties, the sooner they appreciate and are paid off by tenants and 5+ rentals 20-30 years from now would definitely be worth more than the one primary.Would love anyone's thoughts on how you would go about this situation!