I would run a few different scenarios that I had confidence in and as you run the numbers, they should tell you what makes the most sense for you.

There is also a distinction to make here as units can be legal non-conforming aka grandfathered in, in which case the above scenario would be ok to consider rental income and value on all three units. 

For example for a rental with $2700/month rent with folling scenarios, how much mimum income would be considered adequate?

Multi family isn’t as common as you’d find in other parts of the United States, but there are some good properties here to be had!

That would be the lowest barrier to entry in most scenarios. 

Your scenario is unique in that you are a 1st time flipper and you live/want to do this flip in NC.

I imagine there’s a different dynamic with tenants sharing common spaces, so I’d love to get your insights on how to manage this aspect effectively.Thanks for sharing your experience, looking forward to learning more!

I don't expect to know everything by then, but I hope to develop a basic strategy that prevents me from making the most common and costly mistakes that a newbie can make.

10 year (the common benchmark for CRE loans) just keeps climbing.

LOne common strategy is doing a cash-out refinance on one of your rental properties to tap into the equity.