Congratulations on being close to debt-free!

I am drawn to multi family homes and think I would like to start close to home here in the Twin Cities, but the more I listen and read, the less opposed I am to looking out of state. 

It’s pet friendly with hardware floors and a fenced in backyard.

This amounts to lost opportunity because if you had purchased RE, at the closing it can start producing return. 5) ADUs detract from the existing structure whether this is privacy, a garage, or just yard space. 6) this is related to number 1, but there are many more buyers looking to purchase homes for their family than there are RE investors looking to purchase small unit count properties.

With that said, you have to be close to the lake or pools/clubhouse or in a golf cart type community. 

This may be why I've only seen this in pitch decks, and not actually seen it happen in real life.In the US, the SEC has both allowed and authorized the type of liquidity I've described in my last post for decades in what's called the "closed interval fund" industry.

Put 3.5% down FHA, on a duplex (BRRRR), save rest, after closing costs, for reserves4.

Nothing else matters.In general, they are all close enough to the same that you aren't missing a Maserati and using a Prius when the costs are all around the same.

To qualify for debt, lenders generally look at net worth (aim for the loan amount), liquidity (10% post-close), experience, and a solid credit score (ideally 680+).

When you close, evict the tenant if he doesn't pay the rent.