Finding someone that is trustworthy that will do all of that while you are living out of area, and providing money and the lot has value.

At some point, you may decide to pay off properties so you are 100% cash flow and living off the income.

I understand that I should have a separate bank account from my personal checking/savings, but based on my research, this first deal won't necessarily provide cashflow with me living in one of the units (it will when I move out).

My goal would be to live in the condo or coop for a year or two and then rent it out!

Since I live here and am within 15-20 minutes to all my properties I chose to self-manage.

Lovely couple and her sister living in House . great tenants . sister says she might move back to Florida one day and refuses to sign the lease renwal along with the others. 

They live on the first floor of a small ten-unit building. 

A little background info about myself, I currently work outside the U.S. for 9-10 months out of the year and live in California.  

They have a whole department that investigated "occupancy fraud", which is a felony.The rules state that you must live there for at least 1 year.  

I was thinking of living in one of the units for at least 3 year probably more.