You are (older/retired) and could benefit from house hacking and buying a duplex, or renting a room.

Let me know if you’d like to chat and start building connections before you’re ready to buy!

@Jake Baker  You should think about a rehab loan if you are going to buy and hold.

The real estate investing industry uses "Classes" to rank property performance risk, but there's NO agreed upon industry model:(Here's what we use for our Metro Detroit market:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

One thing I’ve picked up from years of managing rentals in San Diego is that organization is everything..

We have also toyed w/the idea of buying/moving into fixeriuppers and selling every 2 years. 

I'm a big fan of value-add opportunities, whether it's buying something currently undervalued & fixing it up to my standards, or buying something that has additional income opportunities that have yet to be incorporated. 

If I was starting from scratch, I would buy a duplex/triplex/quadplex, live in the crappiest unit and rent the others out.

Reason is a Heloc generally carries a higher rate on a shorter term and "Can Never" be used as an "Asset, or for PITI reserves" which are both required when you buy an investment property. 

Some ideas I've considered:Equity Buyout: Having another investor or my partner buy out my 40% equity.Seller Financing: Selling my equity and offering seller financing to the buyer.Selling the Property: Liquidating the property entirely and splitting the proceeds.Does anyone have experience with situations like this?