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

By no means cheap but solid rent + demand, fun place to live, decent inventory (relatively speaking), and is still commutable to the city. 

Live in San Diego.

We live in Northern Florida and manage our 10 long term rentals and do flips in northern Florida and we decided not to go that route with this south Florida home after we started digging into it.  

I don't agree with your assessment on Tertiary markets as it relates to appreciation and cash flow.while some can be OK.. many of those markets are stagnate and those renting are certainly living month to month.. harder to find labor etc.

If you are buying a home to live in - I would suggest finding a good realtor in your market.

A revocable living trust is another option for privacy and asset protection.Avoid gifting the property before death, as this would pass the original purchase price as the cost basis, creating a large capital gains tax liability upon sale.If the property is Subject A’s homestead, ensure the correct titling to maintain Florida’s homestead protection for Subject B.This post does not create a CPA-Client relationship.

We live in this area and it seemed like a great opportunity with the margins How did you find this deal and how did you negotiate it?

House hacking is a great way to reduce living costs while building equity, and BiggerPockets is a great place to network and gain insights.Good luck!

Some require you to live in the property a year before renting.