Given your previous career, your goals, and wanting to diversify your investments, I'm wondering if you might find value in the PassivePockets community, it's a community with private forum dedicated to passive investing in syndications.

Purchase price: $545,000 Cash invested: $545,000 New Construction Duplex - Beautiful Design and very nice curb appeal. 3 bedrooms 4 bathroom - All bedrooms have private bathrooms.

@Matthew Samson, The conversion into a rental and then 1031 can actually be used with the primary residence exemption as long as you watch your dates.Your parents move out for a year and convert the property to investment. 

(C) As used in this Lease, “Premises” means that certain private dwelling residence situated in ________________________________________ County, Minnesota and having an address of ____________________________________________________________________________________.

HML is expensive, better to use private money from friends or family. 

If I wasn't able to get the cash together, using a private lender would've been a good option.

I took a small private loan and bought my first home.

Meet with a local banker & schedule a time to talk with a mortgage broker, they'll give you at least a baseline of what kind of down payment options and rates are out there.After that, if you're still wanting to research more creative options, do some looking into seller financing (a very hot topic with good, and bad, advice out there), look into private lenders, and commercial financing options.If you're wanting to live in 1/4 of your quadplex, then conventional residential loans may in fact be your best option as you can purchase that with a fannie/freddy loan with very low down, and use up to 75% of the income from the property toward your own income. 

Remembering that conversation, I decided to reach out to him.

Don't quote me on that, but it's easy to look up the IRS regulations.I recently had a conversation with somebody else who is planning to start an STR business.