When my mindset changed from having an emergency fund to having an opportunity fund with extra savings or credit lines, it was a breakthrough.  

They come with fantastic insulation between the floors, extra parking on the side with a separate entrance, their own laundry, and plenty of bedrooms up & down.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

Most of these duplexes were purpose built by German immigrants in the 1920s with the idea to rent out upstairs for extra income.

Lots of properties that are 2nd homes, self-managed by owners who are just hoping to make a few extra bucks, not running a serious business. 

Meantime, there's nothing stopping you from putting any extra funds you do have (starting with the lazy $5k you mentioned) into EXTRA principal-only payments!

Getting the lowest balance out of the way is usually the quickest way to start snowballing extra payments into other debts you want to clean up. 

We don’t want to nickel and dime our tenants, but we see the value and it brings in a little bit of extra income.  

That means we have to come up with an extra 1% cash to pay our agent if we want to purchase one of those properties.

On the other hand, if you want something simpler or closer to home, a single-family home might work better.Since you need more space for your growing family, consider looking for properties that offer both extra room and good investment potential.