Now you see how expensive dining and living rooms are that could be converted. 

Can you buy a duplex in Arkansas and live in one side just to get your feet wet and make sure you like the area?

Hey @Jerry Nogueras - I was in your shoes too, born in NYC, and lived between there and Long Island. 

That’s when I realized I already had a strong connection to the Tampa Bay area—my aunts and uncles live in Largo, just 30 minutes from this home.

I've personally done just about every rehab scenario, properties I've lived in, properties bought as investments and even properties bought at auction.You've gotten good advice from folks on this list.

Are you wanting to find something within an hour of where you live or are you open to something farther away?

Hey all,I have been listening to Bigger Pockets content for maybe 4 years and finally have removed myself from some side hustles, have the capital, and grew the...brains to start real estate investing.QUICK BIO:I am b...

I agree with the others here that say you need to have some skin in the game, if you are going to live there yourself, get an FHA loan rather than owner financing, you can get a 3.5% down loan, personally I do not love these as they require  PMI which is an additional expense, and you also need  bring additional funds for closing at least for taxes, title, attorney and transfer fees . borrowing from anyone else for the down payment, to include a personal loan from the bank is not a good idea, those again will be higher int. rate.

Those that own it can be harder to sell as the cash flow from the business will cover the debt service for the business, but not for the real estate.Example: I had a very high-end assisted living facility on the market. 

I would start close to where you live personally.