Even so, you will likely be asked to verify you are living there via utility bill or multiple letters from 3rd parties.Cheers!

The above rate will either be NNN or you need to estimate insurance, property tax and utilities and deduct.  

@Trevor McCormick to piggyback off what others have said, determine if you are trying to maximize it as an investment or utilize it as a vacation home you will STR to help cover expenses, as this could dictate which type of property you are looking for. 

Outcome currently is a rented basement for $1,350 a month + $130 in utilities while I live in the upstairs unit.

Again, I have extensive experience over the last 10 or so years.All the best  

The problem we’ve found, despite using other investor’s recommendations and extensive interviewing, is that so far, every PM company we’ve used is mediocre at best.

I got into RE investing utilizing the same strategy as you're exploring.

Utilize tools like BiggerPockets for resources and calculators, and consider creating a simple spreadsheet to track property details, budgets, and timelines.

Salaries, compensation, rent, taxes, utilities, fees, MLS, etc.The flat fee model is a recipe for disaster."

I utilized those funds to purchase 18 rental units.