@Brittney YangFor the actual legal document, get an attorney.

Because the Property Class dictates the Class of the tenant pool that the property will attract.

Even a single-family home with a legal additional living unit could work if you can find the right property.Because you want a property that needs work, I would be careful not to take on something that is too distressed.

I have three awesome, beautiful properties out in Costa Rica.

@Erik EppersonYou're on the right track looking for a small multifamily or a house hack in Indianapolis, especially with properties sitting on the market.

Since you're owner-occupying the duplex, most lenders won’t allow you to put the property into an LLC while you have a residential mortgage, as it could violate loan terms.

- how much cheaper is it to rent than to live in a purchased property? 

This slows down your acquisition of new property, but isn't as stressful when interest rates go up or if you have vacancy.

I am working with a seller on a property in Chicago right now, and he has a total of (6) SFR properties in Chicago that he would work with me on.

I realized that there are very few lenders willing to lend on a property under $100K.