I purchased a live-in flip for my first home.

Purchase price: $55,000 Cash invested: $440,000 Currently under construction and pre-leased for $6,195/month, this 7-bedroom, 5-bathroom student rental in Clemson, SC, was built using investor cash and designed for high-end student living.

5 strangers all living in a home that have to somehow get along. 

i would love to buy a 3-4 unit that could both reduce my cost of living and cash flow. move out and redo the process a few times every year. 

(But not for a “I’m going to live in it 50 weeks out of the year and rent it out two weeks”, IMHO, if that was your idea.  

I intend to get a single family residence, add an ADU, live myself in the residence and rent out the ADU as a studio apartment long term.I have checked my city's ADU laws and long term renting is permitted.Question : can I obtain the REP status while maintaining the ADU while it is in my primary residence?

I live in Stamford, Ct and Fort Lauderdale, Fl.

is my primary home I live in it, the purchase price for the house was $145k and I put 5% down when I purchased it. i been making 6 payments The house is located in Rockford il Most likely the answer is no if you only put 5% down.

Thank you for the reply @Dave Meyer, it's not everyday that I get to converse with BP Royalty. 

@Tim BergstromI live in Louisville.