Living in top unit and renting out the bottom.

I have a client that bought a condo to rent after living there and the HOA ended up outlawing rentals.

I live in Harlem but work downtown so if I have to go to the building it is not too bad after work.

But this was an awesome opportunity for me because this is my first living situation where I will be on my own (and getting used to paying a rent/mortgage) but this will put my overall mortgage on a 400k house at roughly $2000 a month for the first year!

So - somewhere 2 hours away, or somewhere you like to vacation in, or where all your family lives, or where you plan to move someday.Too many people are trying to do exactly what you're doing - pick a market based on a formula - and they end up buying a random 'cheap' property thousands of miles away, turn it over to people they've never met or even spoken to, and then... lose money.  

Because they’re ideal for creating comfortable and functional shared living spaces.5.

It depends how long you plan on living.

Purchase price: $129,000 Cash invested: $5,000Condo we lived in and fixed up.

After 25 months, If they can prove that they lived in the property for two of the past five years, they can sell it as an owner-occupied residence.

@Isaac TerryIn terms of it being worthwhile, just like most other markets out of state if the barrier or entry is too high where you live, the landlord laws are not favorable where you live, and you are looking for positive cashflow then Cleveland can be a good option.