If you're looking for cashflow, you may have to consider 3+ unit properties, as traditional 2 families don't seem to fit the bill anymore.Happy to connect and chat a bit more about your goals.

My wife is ill and I need to bring Family for support.

Hey Henry, my main market is Augusta, GA focusing on small multi-family with midterm/short term rental strategies. 

Recently one of my clients purchased a $120k single family house and is currently renting it out for $1550/mo.

I've seen my share of horror stories.Finally, if you're young, without a family and not dealing with foreclosures then yes winging it and learning as you go can and probably should be done.

Yeah we definitely do not want to raise funds as it can be many issues in bringing family and friends into our business we believe.I have just finished the Brrrr strategy book by David Greene and he talks about using cash to buy a property.We originally were leaning on doing this as we felt it would be wiser to buy a property in cash however after research I see that using OPM might be a better solution as it would allow us to scale our real estate business faster and also allow us to keep cash reserves for any emergencies that can arise from tenants not paying rent,property damage etc. 

Just remember you have to absolutely clean them as scheduled, no matter if you're sick or you're injured or there's some family obligation or emergency. 

The paid off student rental plus the 2nd student rental helps pays off the mortage for 2nd student rentals and living expenses for me and my wife. the duplex was  cash flowing approx  $300 month with the old tenants We manage everything ourselves with some help from our family. 

Investment Info:Small multi-family (2-4 units) buy & hold investment.

Wouldn't a guest under that policy be a friend or family member you have over to your primary residence?