There are a lot of opportunities on ready to move in homes for less that 130k depending on the size.

Appreciation can be found in many submarkets throughout both Charlotte and RDU, but it really depends on what you're looking for. 

It all depends on your investor profile.

The right strategy for you is going to depend on a few things, like your risk tolerance and how much cash flow you need to hit your goals.

Looking at, and that depends on getting an 80% LTV on heloc/refi, at 600-650K 

It all depends on the area and your goals.

The biggest thing with 5+ units is everything is more expensive, and the inspection requirements (depending on the municipality) are often more rigorous.

If your willing to do so, you can live in the casita and then rent out the main home and have your tenant pay the majority/all of the mortgage (depending on what type of deal you find obviously). 

A CPA who specializes in partnership issues can also likely talk through these issues with you.3) Depending on the size of the deal - Keep It Simple - the number of really complex agreements that come across my desk for a $500k property is crazy, and it ends up costing as much to do those tax returns as a comparable $5m deal

If it is someone you know you can give them a straight return as if its a loan - can provide a lower interest rate to provide upside - it really depends on the lender and what are they concerned with and what is their risk profile.