You of course can utilize both strategies however the adminstrative costs associated with owning the property becomes higher.

I've drawn the new build for an owner-occupant to have a single family home but with the option of having a "tenant"/roommate or family member (perhaps in-laws, or elderly parent/grandparent, or a brother/sister, who wants private, separate living space, etc.) living in their own space with their own separate utilities.

Mortgage payment is 867 but I pay 1k a month on that and 500 on utilities so my total burden is 2100 with tax during the seven months it’s a vacation rental it does 3-4k which means that I’m breaking even year round as it is. 

Looking for 3bd/2Ba with washer/dryer, yard (with the landscaping included in rent), and no ADUs where we are on top of our neighbors and splitting utilities with a stranger. 

I want to utilize my time in learning and if possible gain experience through the help of this great community.

The seller loans 40% back to the seller (on a partnership agreement)  Thus, 40% of $1 million is $400,000.That $400,000 pays off your transactional lender ($200,000 plus closing costs and 2 % point) = $215,000$50,000 is utilized to renovate the propertyYou will keep the remaining balance.Since you are giving the seller a large sum upfront, you should negotiate at least a 60-month 0 interest and 0 payments on or before(5 years).  

Be careful about credit utilization dinging your credit score below 720 and clogging up your refinance.

Section 8 published rents include all utilities and are adjusted down for utilities not paid by the landlord.

I've bought most of my rentals utilizing vendor carry back financing (for a zero down option)Utilize Your Network: Use your connections for off-market deals and creative financing.

Please keep in mind that unless you are a real estate professional or utilizing the short-term rental loophole strategy, you are creating passive losses that can only offset passive gains.