Maybe some want to save their money and live in ok apartments/homes.

HI Stephanie,You can always start off by house hacking meaning you live in one UNIT or ROOM and renting out the other vacant units/rooms to offset your monthly mortgage payment.There are several ways to run and make sure you are maximizing your rental income while keeping your living expense as low as possible.

I picked Toledo for the university and the growing, however small, Asian community on top of being an hour away from where I’m at."

Both units previously had family living in them.

That conversion will not trigger any tax.Unfortunately we can no longer eliminate all of the tax simply by converting to a new primary and living there. 

We have a long-term tenant who has recently started having a guest live with them.

two different flavors.https://www.biggerpockets.com/real-estate-investing/house-ha...https://www.biggerpockets.com/blog/live-in-flip

But am wondering if there is already a quality reservoir of information out there that folks are familiar with.Hi Arjun, I am from Colombia, and I have invested in real state over there, however I have lived the last 6 years in Spain, I exactly arrived when the economic recession started :/ However, living in the South of Spain (La costa del Sol , Andalusia) and observing how the prices have tragically decreased through the years I have finally decided to get into the business here,..

I always visit multi-unit properties during the nighttime and weekends to see what type people live in the neighborhood and in the properties I am considering to purchase.

Not sure what state you live in as some are title states some are attorney states.