I live and invest in 2 similar markets.

I'm married, have three kids, and I live in an upper-middle class type suburb with the lawn and the white picket fence and it costs so much these days to keep a family there, it makes me worry about the future for my kids. 

I’m first going to live in it for a year (so all losses then), but after that year I’ll likely be moving and turning it into a rental. 

Or to live off the cash flow?

You need to calculate the time to break even on this, and consider if you will live in this home in 1 or 2 years from now.

Your first avenue may be reaching out to your network - any other close family or friends that need a place to live?

Purchase price: $360,000 Cash invested: $96,000 Purchased my first investment property in summer 2017 while living in SF, a new construction home intended as a long-term buy-and-hold.

Turned out that the house had been owned by a family who lived there forever and ran a small beauty salon out of the house, so one of the bedrooms had been turned into the hair salon and the dining area turned into a foyer.

Currently living in the other unit which is a 2 bed one bath.

We are renting all 3 units currently, while living in another home that we co-own with a friend.