- You can rent out the bedroom you would normally occupy.- Most cities do NOT care if an owner lives in basement, but will not allow a tenant to unless baement has legal egress window.3) Check local statutes if any limitations on how many unrelated roommates are allowed.4) Check with local building dept to see if rental inspections and corresponding requirements.5) Local statutes allow locks on bedroom doors?

And my rentals there are cash flowing nice, but it's taking some time to getting it occupied, and I also found out that I need to make sure that the tenant is paying for the water, because the water bills are really high over there.I will keep you all posted along my journey, and I hope I could help you friends.

How are people buying multiple non owner occupied properties on fixed rate traditional 30y mortgages? 

I will agree that 4 unit owner occupied is a great way to go if you can manage it.

With $50k, you might be able to get started using an FHA loan, which typically requires a lower down payment, as long as you’re planning to occupy the property.

This would be a second home under your proposed scenario unless you or your wife plan to occupy it permanently as primary home.

However, I would avoid neighborhoods where the vast majority of the homes are owner occupied and all of the homes are really well kept - you can do a quick search on county GIS or software and click on the homes to see if they are owned in personal names or LLCs. 

I quickly realized that you do not need to offee tours, especially since the units are occupied as long as your photos are up to date. 

Quote from @Leo Alvarado: Hey guys, I am currently in the process of closing on a two unit duplex that I will be occupying while renting out the other unit.

My only hurdle is the fact that I don't know the Real Estate Investing industry that well, so I don't know where or how to find the right documents for my wholesaling transactions.I've began generating pre-foreclosure leads, which I am able to filter out just ones with high equity, owner occupied, and no auction date, yet.