I plan to use two of the bedrooms for Airbnb short-term rentals.

They seem to be very expensive and I'm not sure if it's something absolutely necessary or not. 

It is very expensive to miss filing dates, so file now.Remember, File ALL of your entities (Corp and LLC).Watch for updates on this.

It's not worth it if the local ordinances don't support your plan. 

Living in a very expensive real estate market (like my Seattle area), long distance real estate investing provides a dynamic path for building a robust and diversified portfolio that I didn’t think was available.

I am in contract on a duplex in Grandview where I plan to live in one side and rent out the other.  

Would this be a feasible plan?

I would like to purchase a three or four Plex and live in one of the units.I understand I can use an FHA loan or conventional loan with only 3 to 5% down in order to get into the property however I live in a very expensive area and the properties I am looking at are currently 700+. 

What was really surprising was how expensive materials were.

This seems to follow the general overall trend of lower cost areas winning at the expense of those with a high costs of living.