@Christopher Reynolds My mantra has always been, "Live where you want to live; invest where it makes sense."

Since neither you or your girlfriend work in the tourist industry’s, nor should you plan to live in the strip. 

Nothing beats living in the Sunshine State!

How do you know what areas co-living could work? 

Let's say you start a foreclosure on a vacant house in Alabama worth exactly $50,000 as is, whose owners of record are dead, and whose true owners are ten heirs who live out of state and don't like each other very much and are not savy real estate investors.

I understand the exceptions with people who live in CA and NY, but I see it here in Cleveland too. 

Quote from @Charles Kannon: I lived in my home in South Carolina as my principal residence for all of the last 10 yrs, moved, then sold with owner-financing. 3.5 yrs later after sale, the buyer re-sells the home and sends me full loan payoff.

It's a hard living these days, but a living nonetheless!

First, my mom lives in a 6BR 3 BA house with 1 person. 

I’d also need to renovate the unit I’ll be living in to make it more comfortable.Property Details:Four units total – I would live in one and rent the other three.3 1BR/1BA, and 1 2BR/1BARents are below market – currently bringing in $5,000/month total from three units.