It depends on where you want to live, income, personality, and other factors.You could buy a large home and rent out the individual rooms to cover expenses, but this comes with problems.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

What I've seen is that when asked to provide an assurance that a loan wouldn't be called because of a due on sale clause being triggered, the lender customer service typically just outright says it's not allowed, or default to a "no", because they see it as a black and white question, and miss why the due on sale clause is actually written into the mortgage document to begin with.If one is transferring property title from personal name, a Grant/Warranty Deed would be drafted/recorded to transfer title.

To establish a 50-50 ownership in both the property and future profits, you'll need a formal agreement outlining each person's contributions and rights.

What I personally do is I will hire a local Civil engineer who has done subdivisions in the jurisdiction and I will pay them up front for a detailed feasibility study.

It is not your responsibility to house this person's items indefinitely in your rental. 

This might give a one-time (non-scalable) boost to cash flow, offer multiple value-add options, and allow the house-hacker peace of mind, via the assumed mortgage, in long-term breakeven or positive cash flow in the event that the value-add plans end up not being executed, and/or the person has to move out, and rent by the room or STR become unavailable for some reason at a future date.

Average person can't visualize how to fix it, but you can (create an extra bedroom for example)3.

@Scott Schnabel actually, the cities of Hazel Park and Warren require a DL from someone at the PMC and write the tickets in their personal name.

It's been a very, very bumpy road to be under contract - and past the due dilligence period - on a new build we are purchasing with the intent to use it as a STR (and some personal use).