Hi Willie, I think it would be best to wait until you have more capital to put down for a multi-family property. 

The common thought is to not rent to friends or family.

A traditional single-family rental may net you only $280/month, whereas a co-living setup can bring in over $1,100/month from the same property.4.

If your property is residential single-family owner-occupied in a good area, the buyer has good credit, made a good down payment, and twelve or more on-time payments have been made, you'll be in the lower range.Note buyers, just like lenders, won't go above a certain loan-to-value (LTV) ratio.

Back when I was in finance, we had a broker who was charging a family 2% for management fees on their cash that was only making 0.3% at the time.

@Eric Martin I grew up in Montgomery, and still have immediate family there.

Quote from @James Jefferson: Hi, I have a family member that had a reverse mortgage on their property it's a 3b 1b 1 acre of land heats by oil no hvac and on well water.

I am from Phoenix but lots of family from the Seattle and surrounding areas.My wife and I have been doing live in flips since 2019.

My family makes a joke about how those items aren't "Nickproof") At this point we decided to call it and come back tomorrow. 

For the 10 year period spanning December 2014-2024, single-family prices in Austin nearly doubled, yielding an annualized appreciation rate of ~9.4% in that period.