You’re on the right path. 

You are on the right path, keep putting yourself out there and asking questions. 

You should be fine with the correct insurance.

Hey @Juan MendozaThe posters who are saying that the building code does not require a closet for a room to be considered a bedroom are correct.

We're currently renting downtown and looking to get started as first-time home buyers in an owner-occupied duplex situation to start our path in rei. 

Collin is correct - take your time and go slow. 

@Geoff Engel depending on what amount of available cash you are starting with and what you ultimately want to achieve will help determine your path.

I’m currently in the save all of money phase, I want a couple years of solid savings and some education before I get started, I’m 33 and have been working construction my whole life so this will be a much different career path for me.

Initially, I'm thinking you are correct that increasing the occupancy won't affect the nightly rate that much.

If you aren't going to set up the LLC correctly, for asset protection structuring, you might as well buy it in your personal name.