I want to invest it wisely so that a part of it is used for my living expenses and the remainder invested in RE producing cash flow and appreciating over time.

Quote from @Breeya Johnson: Quote from @James Wise: Quote from @Travis Cooke: I've been looking at the Columbus and Cleveland-Elyria MSAs in Ohio. 

Quote from @Chris Mason: Quote from @James Wise: Quote from @Jay Hinrichs: Quote from @Chris Mason: Indoor shopping malls as they existed in the 1990s are dying, but retail is not.

Quote from @Josh Holley: @James Wise I have plenty of money to buy whatever I would like.

@James Wise gonna have to disagree with the "lie cheat steal" concept regarding residents.Any resident has the potential to be less than desirable.

Hey Santosh,As of right now you're extremely exposed regarding insurance and I'm going to assume legally as well.If the home isn't registered as a legal multi-family with the town that's something you'll have to correct ASAP and make sure the home is up to code.Insurance wise as soon as they find out what you're doing they'll cancel you as the risk has changed from a single family owner occupied home to a multi family owner occupied home.

Where do you want to be numbers wise, and how do you want the property to look one year from now.

On a rental that’s not generating income is it any different book keeping wise then you would for a rental that’s is making money Or what are good things to know or learn Thank you !

It would be wise to rectify it before transfer of title so your starting off clean and hopefully won't have any issues when you go to sell down the road. 

Quote from @Sean Barnebey: This is an interesting opportunity, and it sounds like you’re approaching it wisely by considering the numbers carefully.