The property or properties will be in Florida and/or Alabama.

For an investment property (purchased as an owner occupant), that is insane. 

With 34 years of real estate investing experience, I’ve been involved in everything from owning rental properties to flipping.

@Frankie Lotrec if you have an existing loan on the property and you plan to legally convert from a 4 unit to 5 unit , you should check the loan documents because you’d essentially be converting it to a commercial property, since 5+ units is considered commercial and subject to different appraisal approaches and so it would rule out the property being considered for purchasers utilizing residential financing.  

But maybe its worth it if you don't have a place to get hard/private money for deals. 

Hi @Robert B Azimi,A home that has been registered through The Mills Act, can be rented out the same as any other property, and it can even increase rental revenue as there are people who really like the thought of living in a historic house.

:-) Then I will personally host you in my Columbus Ohio property 😁

I was sent an offering memo by a broker selling a multi-family building in an area no reasonable person would even consider affordable housing material yet the marketing materials made a point of emphasis to detail how the property would satisfy the need for affordable housing.

We are seriously considering  rent to retirement properties given the relative passive nature.

In August 2022 I was with a group of investors at a property we had recently purchased in Costa Rica.