Figure out how much you can afford to spend on a property and how much you can realistically charge for rent.Research properties: Look for properties that have separate entrances for each unit and enough space to comfortably accommodate tenants.

A 2 story home with separate entrances (Possibly built so 15+ years convert it into a single home with upstairs/downstairs)Basically, I am asking if this situation would work.Sell current home, and build a new home in that half of the property would be rented out and I would live in the other half while being the landlord.

About the property:4 units (separate entrances)1,500-1700 square feet/unit2 2-bedroom units2 3-bedroom unitsNear north side of IndianapolisAdvice, contractors, potential interested deal-making parties are all welcome to the conversation.

Renters like the private entrance, patio, attached garage, etc.

While I would like to buy-and-hold a SFH or multi-unit as my first entrance into RE, the competition in this market for them has been tough (I've met so many overseas investors at open houses!).

The bigger unit has 3 bedrooms and 2 baths with a separate entrance.

Sounds like a pretty strong entrance into the real estate investing world. 

So definitely jump in and start plotting your entrance - it might take less time than you think.

We have just opened a coffee shop right across the street from the entrance to Stonebridge. 

I have a great case study in my area in Northern California wine country, there was a manufactured home that was very very nice they built great decks and made a grand entrance it was on 1.5 acres in wine country.