Calculate the potential cash flow and return on investment to ensure it aligns with your financial goals.Purchasing a duplex and house hacking: This option offers the advantage of living in one unit while renting out the other, potentially covering most or all of your housing expenses.

Judicious use of leverage (debt) when the property will still cash flow positive after debt service; when there’s enough equity left in the property to refinance if advantageous, and when sufficient reserves are held to cover vacancies, recessions, and unexpected repairs5.

One of my strategies will be to put money into energy efficiency to decrease heating costs, and increase my cash flow - Maine has some good loan programs/rebates that can really help tighten up a building, and finance efficient heating, so I'll be taking advantage of those.

For CA investors Nevada has many tax, landlord, and market job growth advantages.

Purchasing cash can be advantageous if you have the funds available with a cushion.

BUT think about all the other advantages owning a property has. 

Local or National Expert - There are certain areas of the country and property types where the most advantageous place to seek financing will be with a local lender or recommended area mortgage broker.

You'll have an advantage as when you're buying a single family home, you could look for ways to maximize your value by purchasing a house that has a finished basement.More often than not, my clients that have been in your shoes have ended up living in the basement while renting out the rest of house as a full home.Not saying this is what will work for you, but just my $0.02 on what to look for... give me a shout via DM or text me at the number in my signature.

A 1031 lets you use the tax to  your advantage instead of paying it. 

Should I split with the renter or should I pay it ,but won't the renter take advantage of the water usage if the landlord pays it ?