You can get something in the Heights or Montrose, but I would have to ask my 2-4 MF in appreciating market versus 4-5 BR in appreciating markets and renting the rooms out? 

Thinking owner of property saved $30,000 to have it removed.Only imagine the look on people's face when they saw first day versus day on market. 

Would you be open to a loan versus a line of credit?  

@Allison Zittritsch whether STR, MTR or LTR, you'll first need to figure out a target purchase price and get pre-approved by a lender.Then you'll need to research where to buy, based upon rents versus purchase prices.We can assist with referrals, PM us.

@Madhur Mehta I always look at my return on equity versus running a COC base on my initial investment.

The next step is to pull out some cash typically a cash out refinance and use that cash to put down on another investment property.Are you strictly using your liquid reserves/earned income to buy versus using the equity to pull cash out?

Therefore - if  you are  definitely planning to use a LLC - I would recommend  leveraging the purchase with the new loan versus  counting on being able to pull  equity out of the new  rental via a new loan to the LLC 

Each of them sought the property for their primary purpose of worship/office/etc, and then sought out additional uses as well - nursery school, food bank, place of worship for a Jewish congregation (Saturday versus Sunday), auxiliary space for the local library that needed additional educational space, counseling, etc.There is merit to your concept, but many factors come into consideration:  zoning, parking, how easy it is to "convert" space, etc. 

This is worth five minutes of your reading time.
If you have a liability claim at your vacation rental, the claimant is alleging negligence on your part and asserting that you are then liable for damages as a result....

There is no way the house would rent as much if it was rented as a whole versus by room.