Nice compromise but it does look better for lease/option tenants and it wears better in the main living areas if they vacate.

-you will have to manage your rehab - make sure everything needed is done on time and on budget, and if anything is outside of the scope of work of the main contractor(s), you find someone to do it, in coordination with the main rehab, and without delaying your project.

This house is currently a 2/1 but with the additional 480 sqft of living space (main bath, dinning, walk-in closet).

I’d honestly rather just look at buying one off condos at this point, probably not gonna cash flow either but at least you take some risk off the table and can get into more stable areas with less construction (mainly NW)  

In regard to what to look for in a mentor (paid or unpaid) is that they are actively doing deals, are one of the main GP (not someone who has a minor role in a deal), offer a proven system for you to follow, and offer the connections you need to complete a deal.

I've been in real estate around three years now, mainly as a landlord. 

Hi Davin, It mainly depends on whether or not you plan on being on the new FHA loan with your spouse.

This would qualify even if the portion used for investment is a part of the main living space, because even though it's being used for investment it still qualifies as your primary residence.

Personally I wouldn't buy any property occupied, I'm interested in the asset itself and will decide how I operate said asset.What is the main reason that you wouldn't buy any occupied property?  

I generally use cash to invest but the real estate market is very depressed right now and my portfolio is diversified in BTC cryptocurrencies focusing mainly on gold short term trading on top of state metals