Once complete, you may be able attain higher rents, provide that to your lender as rental income, then transition into another small multifamily deal repeating the process. 

I've loved the many stories you have shared that makes this goal seem attainable. 

You may be surprised at how radically different those two properties are (I was definitely surprised).For instance, before the rate hikes, a mortgage payment of $3k per month put you in the lap of luxury in my city--A and B class properties in the best A and B class neighborhoods in the city were attainable (think: beautiful tree-lined streets, trendy bars and restaurants nearby, the best school districts in the city, residents with some of the highest income in the city, etc., etc.) . 

I'd look at your avg sales price in your market and base a goal off of that, keeping in mind that your starting your business and want it to be attainable.

@Dijana AleksicPassive income real estate is known as one of the best ways to gain an additional source of revenue, attain security in retirement, and ultimately design a roadmap to achieving financial freedom.

If I decided to purchase and end up separating into a duplex w/o city's approval, will I have to attain Aurora city rental license and/or will it raise any questions if a rental inspector comes inspect?

As for the rents, there may be some fluctuations there, but I believe that Rental price could be attainable. 

My idea is to attain my RE license to immerse myself in the real estate underbelly instead of just reading a few courses and articles here and there and eventually serve as the sole agent for what would be my family's RE porftolio.

Hi @Amir HashemianA condo is attainable for that budget.

I just don't know if it's worth attaining licensure so early considering I'll be studying abroad for at least the next 8 years (I'm planning on pursuing a PhD).