Both options have merit: the standalone approach allows for independence and customization, while the duplex route offers potential rental income.

After having your own experience, you'll know what to look out for in a Management company, and I can say this from experiencing first hand.I would connect with other investors that are from Arizona, you can sign a joint venture agreement with them, giving them either a percentage of your rental income or equity, and they will be your boots on the ground. 

My name is George and I'm looking to learn more about the real estate market in and around Denver with a focus on finding a small multifamily property (3-4 units) to live in and rent out the other units for passive income.

Can someone point me in the right direction on where I can get the form to add an addendum into my lease about what I'm using the corporate unit for.

As my research if income AGI over $150k you dont get to write off a lost on your rental.

Is this a low income property?

In a few months, we will be receiving a significant amount of income as a lump sum that would pass through as schedule K income after the LLP's deductions for the 2024 tax year.

You can also go to Airdna, and I think it’ll let you put in the number of bedrooms so you can get an estimate on what your gross income would be for a property of that size. 

Currently leased to Section 8 tenants, it generates a steady monthly gross income of $1,645.

You have to weigh the cost of a non-renew against the potential income you could make.