If the building is currently recognized as a single family residence,  then you are changing use and presumably will need to sprinkler the building and satisfy other fire rating and STC rating requirements not to mention the added costs of having to run mechanicals for multiple units, multiple kitchens, additional bathrooms etc.  

I'm looking for advice on areas of Jacksonville or nearby to buy a 2-4 unit property for a personal residence with a small family.

Franklinton is undergoing rapid transformation, with developments like The Gravity Projects, new breweries, and an expanding arts district driving change.Safety and Future Outlook:Increased Investments: New developments bring better lighting, public spaces, and infrastructure, naturally improving safety.Community Growth: More residents and businesses create activity, discouraging crime and boosting the neighborhood's vibrancy.Police and Outreach: Enhanced patrols and local organizations address crime and substance issues.While challenges remain, ongoing investments and gentrification make Franklinton safer and more attractive.

Most residents are going to look for the best value for their voucher. 

I worked with a company that helped me set up my asset protection. 

So if one resident tell us something broke, we notify all residents that we're on it, ordering parts, etc.

That would be one way to keep your money protected 

@Michael Nguyen Starting with an LLC is a great move for asset protection and partnership clarity, but it can make securing loans a bit trickier, especially when you’re just starting out.

Cash flow is used to protect your investment, not live off of.

Investment Info:Single-family residence buy & hold investment.