Outside of real estate, I do other types of investing and consulting, I am a macro strategist with long term time frame.  

Hi Travis,The best advice I can give you is to consult with a lender, explain your game plan, and ask what is needed to qualify for a 30-year fixed mortgage. 

I would look into consulting with an attorney and maybe even going to the agent's broker and/or the Ohio Division of Real Estate. 

They might be able to steer you in the right direction.To piggyback off of @Jake Andronico, I'd consult your lender about your intentions to see if they would need any specific requirements.

Be wary if rents exceed 1/3 of average incomes.Absorption/Vacancy: Consult National Association of Realtors for market time and inventory insights.

Also, as of 10 minutes ago, I was presented with a SF and 2 duplex on one lot, that has gross rent of about 36k for 120k,,, now THAT looks good, but will find out in about an hour,  You're a real estate consultant?

(I already discussed this with a loan consultant)Going with scenario one, the pro is that I can charge a renter a reasonable amount seeing as the monthly is fixed at the lower interest rate.

hello-q: i hope that you have quite the plethora in information about the decide to..build a square space (office like in function) right next to house-to have "reason space" to work from home ('i am forced to work from home bcs of having parent who survives a stroke-cared for on/in house property, bcs putting her instead in assisted living-wouldn't be more affordable/feasable, and many states (california being one) are willing to help loved one(s) to age/stay in place as reason to build these extra spaces in/on property..putting her in the situation as more benefitting i am researching the state orgs to find out what to do=being as stellar the careful/accurate as i can with gathering as to what to do..including the obtain of funding per any grants.and trusting that having your consultation has us getting away from issue/noise over just purchasing/happenstance model in default assisted: residential (multi bed home stead-with all the red tape & fees/tax justify better?

Quote from @Sheila Peschges: You have to study your state laws closely (or consult an attorney) to see if it's allowed.

I wish you the best luck with this good problem that you have whatever you decide to do make sure you consult a professional to assist you with the transaction.