Ok, next let's remove all the high risk; bye-bye sec8, D/C class, per room rentals, STRs, all that big variables stuff GONE. 

My best advice is find a place that has a few rooms with square footage to add additional rooms and an ADU.

I have had inspectors look at rooms on renovations that were not permitted (we weren't even doing work in the rooms) and asked that certain changes to be made to bring the room up to code (it was minimal).

Too many are locking up properties at retail prices and tacking on outrageous assignment fees, leaving no room for investors to profit.

Looked up hotels and I see $350-600 per room per night for 2 adults and 3 kids.

You should wait a little longer and give yourself some breathing room.

It will depend on your preferences and how well you think you will tolerate having a room mate as you approach a new life with your partner.

@Philip Beckwith,  Since this last post is only 5 months old and you are in Grand Rapids like me, have you had any follow up/results / success since this last post reply? 

Relatively small amounts of interest income ($1600+ per year) is the highest taxed form of income I have found if you have kids at home.After earning a few grand in interest, It takes away my child tax credits and gives me an effective tax rate of 70%.   

I like the tub (it wasn't cheap, about 12 grand) but there's not great service options where I live and not sure if I would get it again since I mostly have to take care of it.