The other option is if you can do a lot of the work yourself and know all the trades and can trade business with them.   

Any ideas or expected costs? 

Hi Luke, an education expense is a deductible business expense only if you get the education while your working in a business with a profit motive. 

I had no intention to ever use it outside of my own business.

Once you get your systems down, you have a real estate business model that you can take to any market and be still be successful.

Buying a multifamily property is essentially buying a business—income minus expenses.

Haven't been active in our community much, but have been conducting business with a Bigger Pockets agent.

Just adding that in my experience, renting a property to a tenant sight-unseen is usually a bad idea, even when the unit is properly turned and professionally cleaned.

That, in and of itself, is a great idea to live in one side and MTR the other, but you are making your first property more difficult to manage (but easier if you are on site).You don't have to live there, but why wouldn't you want to investigate the market more clearly before making a decision on it.

If you take a loan out that is specifically used for a business expense, such as paying for a rental property down payment or rental repair, then the interest paid for the loan is generally tax deductible, regardless of the source.