We have more money to put down, and will need to put more down because we wont be house hacking (we have 5 children so space could be a problem if we tried that).

There are multiple big properties here that you could rent out or even buying multifamily here would give you your own space and give you some landlord experience without having to live with your tenants. 

Generally:Minimum size: Most jurisdictions consider a minimum of 70 square feet of floor space.

Next step, connect with a investor friendly agent that will help scout out properties for you and/or connect with you others in the space with something off-market.

That's why I posted, to provide people with real advice based on my experiences so they can avoid making the same mistakes.Providing greater buffer space for capital expenditures and controls is a good risk management strategy.

Two of the biggest players in this space just folded.

@Mark Sullivan Hello did you go through with it?

I’m in the private lending space, so if you ever want to chat about financing options or need a second opinion on a deal, I’m happy to connect.

It's also unlikely that you can convert a single-family home into a community center (not sure if you mean an actual community center or co-living space).

After owning the property for 1 week and putting in a lot of sweat equity, I've concluded that I want to keep the Inherited tenants based on the condition of their living space and the quality of the people, Knowing I want to keep them to save myself the headache of a  turnover and vacancy of a projected move out If I were to suddenly increase rents.