All that said, depending on the size of your RMDs, liquidity needs, and total income, you may consider making deductible contributions to your own IRA ($7k limit, $8k if above 50).

The only place it might become custom is where your notes are assets/liabilities. 

There are ways to mitigate liability when the property is in your name. 

The general partner purchased each property for $18 million and sold it to the limited partners for $25 million.

You're only limited by your beliefs.Practically speaking though, 2-4 unit multi is very very doable starting out, especially if you are willing to owner occupy.

@Robert Ellis Location Location Location...There is limited land supply in markets with high demand and high barriers of entry.

If the ADU doesn’t meet IRS guidelines, you could face capital gains tax liability.

Since you put 5% down and the appraisal came in at $160K, your available equity might be limited since banks usually cap HELOCs at around 80-90% loan-to-value (LTV).

That’s when working with a CPA isn’t just about "getting it right"—it’s about proactively reducing your tax liability and setting yourself up for long-term financial success.TurboTax and basic tax preparers like H&R Block handle what's in front of them.

I know there are limits on how much you can deduct for each year but my guess is that you would be fine with only one rental.