Or are you going to go the safer route for minimal time expenditure like buying a multiplex and renting out 2 out of 3 units?

This vary heavily town to town. 20% down is great if buying strictly as investment but if you have a way of owner occupying I would explore that route and apply the 20% down to increasing value of property and instead using low money down loan. 

You can put a mortgage into a "trust: without triggering a due on sale but again contacting your bank/lender is the best route to avoid any issues.Some banks/lenders or servicing companies change guidelines and even a trust may require other paperwork but the attorney usually facilitates that to be safe.  

I am not there yet, and hope to not have to go that route, but would be good to know all of my options. 

I was thinking about that as well until I came across doing a trust instead, so next time I'm just going to setup a trust and take that route and have someone else mange the trust while using my llc to protect other assest 

If you do need the extra bed, then refurbishing the existing unit might be the best compromise.If you want to go a different route to have the review removed.

I was seeing information online that suggested both routes...Thanks in advance for the help!

I thought basis would be safest so I will go that route.

So it sounds like maybe a HELOC would be the best route, all things above considered? 

As someone fascinated by the intersection of housing, technology, and fairness, I couldn’t ignore the Justice Department’s latest lawsuit against six of the largest landlords in the country.