My wife's siblings have built 2 house on this land as there own houses they are living in The property is a total of 15 acre and each siblings got a portion of the property.

These do tend to be more expensive but are also on the table as an option.

And there are even more carriers who would insure co-living rental w/o owner-occupied - for example Obie.

Had an inherited tenant move out after living in a property i purchased a few years back.

I've been living JC for 15+ years and have some investment properties in Guttenberg.

We just closed in late Dec so the financials are a work in progress but we’re projecting and tracking closely to a 55% expense ratio and should have about 11% CoC in year one through the renovation period as we get more renovated units online. 

Evaluating deals on this site will help you understand expenses, income, and financial statement.

With that in mind, I’ve decided to focus first on finding a distressed SFH that I can add value to, live in for a few years, and keep as part of my long-term portfolio.I like your suggestion about building the “core 4” team—agent, lender, contractor, and property manager—and will definitely prioritize that as I move forward.

So you might be living in the US or in Europe, investment properties are bought to outsource and earn from the cashflow.

What would you do with your current residence if you planned on living in the new one to get an FHA loan?