Question, have you gotten a multifamily unit yet? 

Originally posted by @Brian Eastman:@Roman Stefaniw@Chad Urbshott recommending Olympia Trust and the like is what I thought I was referring - which is self-directed plan itself. 

Living in one unit and renting out the others allows you to deduct 75% of expenses like mortgage interest, property taxes, insurance, and shared repairs as rental expenses, while the remaining 25% applies to personal use.

I'm imagining something more like add a wall, turn a bedroom into a kitchen-living on one side and a formal dining room into a bedroom on the other side, maybe add a half bath in each unit.

Rent in the neighborhood is $895 for a 2 bedroom, 1 and 1/2 bathroom, so for 4 units it will total up to $3,580 ($1,073 difference).

Spend a little more money than you might have been planning to, buy in a better area (i.e. not a “turn key” 100k house off the mls), and self manage.

Originally posted by @Joe Sera:@Christopher Smith when you 721 into the UPREIT you receive Operating Partnership Units (OP Units). 

I am conflicted on whether to use the 500K on one big property (ideally multi-unit) or buy several smaller properties.

This criteria is for 1-4 and 5-8 unit programs.

Right now I own a duplex, I live in one unit and rent the other for $1400 per month.