If you want to maximize your max rents then if might be a good idea to condomise it so that you can get rents as two separate units.

I have been kicking around the idea of getting my license in New York even though I am not actively looking at real estate in NY or do I really intend to get a job as an agent. 

We LOVE the idea of Pre Fab, as it’s potentially fast and predictable.

I would start breaking down your goal/number ASAP to get an idea of what your daily actions need to look like.$500k annual cash flow in 5 years -> 1-year rate: $100k per year in cash flow -> ~$8k-$9k per month in cash flow -> hypothetically speaking; $2,000-$3,000 in cash flow per 1 co-living property = acquiring ~3-4 properties per month starting now, which realistically probably means around 15-20 offers per month, at least from my experience, unless you have some fantastic source to acquire deals off-market. 

I'd echo the idea of house hacking initially. 

@Alexei Amelenko It would be difficult to put this into a easily written format so I will just post the link to https://www.bizjournals.com/louisville/feature/crane-watch which should give you a general idea of the market.

It is an area we frequently visit, so it would be easy for us to check on our property when in town and we like the idea of investing "in our backyard" for our first property before branching out into different markets.

Thank you for any ideas or perspectives moving forward.

Also thought it could be a good idea to learn about different markets in Ohio, possibly for the future.  

Hope everyone is having a positive Wednesday and looking forward to discussing some ideas,A