You are young and presumably single, so living in a master suite while renting out some other rooms is easy.

Hey @Victor So - We typically use MG granite who works out of the Chicago suburb Elk Groove as well.I'll share their contact info in a PM.

Thanks Meghan, this would be my first purchase so looking to start with a smaller sq ft facility, around 50k.

I'd say start the process of securing your HELOC if you havn't done so and spend time analyzing deals and determining what type of investor you are looking to be. 

I bought 2 new construction in Athens last summer and rented them right away... so far so good. 

So it does appear to be possible to get an FHA 203k loan for a 5-unit & convert to a 4-unit.When possible, aim for the Limited (aka Streamline) 203k loan, as it's less complex, not required to get an FHA consultant, etc.Of course, this is based of the two following important assumptions:1)  zoning allows for this2)  and obviously I owner occupy for at least 12 months3)  the total purchase price + renovations are within the FHA loan limits specific to my areaWhat I'm confused about is the timeline or chronological order of the process? 

Some think that this is an anti-group home law, but so far nodoy has challenged this in court.

I'm more of a hands-on learner so I was able to learn a ton.  

if so where do you market your listing? 

Here’s why this market is so ripe:1️⃣ Mom-and-Pop Sell-Offs at Huge DiscountsA lot of these properties have been in the same family for decades, but now the kids aren’t interested in taking over the business or the real estate.