Multi-family properties many times provide a better return per square foot than single family, which would be to your advantage as well.As long as you're mindful of the reinvestment requirements and purchase at least as much as you sold and use all of the proceeds, you shouldn't have any issues with this strategy.

Smaller SFH = less maintenance , there are lots of single looking for a place to live .

@Kyle Trotman If you purchased with a hard money loan conventional lenders will require extensive seasoning to utilize the new appraised value for cash out. 

Typically, the same applies to LLCs where you and your spouse are sole members (single or multiple member LLC).

Are you buying single family or multi-family?

BUT, get a solid quote on utilities.

Does that include utility service to the house, a driveway, septic and well? 

My thinking is that by renting to a residential care facility I can effectively utilize all the space, earn above market rent, and help provide a needed service, while avoiding tenant parking jams. 

After reading so many intros of young, single, eager individuals, I'm hoping I'm not too late to the game! 

single family or multifamily?