Hopefully, not an expensive tenant or Fair Housing lawsuit.100% of what @Travis Biziorek states is true, but he left out a key fact - he lived in the Detroit area when he started investing here, so was able to self-manage and meet everyone he had to hire face-to-face.

Don't make your life more complicated than it has to be.

I live here and househack as well - can provide a first hand perspective.

Could you expand upon "leverage the start of your entire life"? 

City recently did a building inspection and we noticed the tenant is smoking in the unit (cigarettes and marijuana), food waste everywhere leading to building pest issues, and there are 5 people living there now (3 adults and 2 kids).

Settlement will occur throughout the life of a structure, although in most cases it will diminish over time.

But it's still...whole life insurance.

I'm on house number 4 that I've lived in and renovated, so I agree that's a good strategy (I've done it just through life, not actually a purposeful strategy). 

I work, live and play in Charlotte, I'm from Asheville, and I've lived in NC for almost 30 years.

After 25 years of co-living have now graduated to one side of a duplex.