There's always gonna be poor people and those poor people are always gonna need a place to live.

We now live in Arizona and I frequently fly back to the southeast to repair or inspect the properties and already deduct the travel, lodging, and half of the meal expenses from my taxes. 

@Holly Radice so I own in Barnum but do not do any STR as I don't live in the area.

Just to confirm my understanding, you are living in a side by side duplex in Miami - you want to renovate the other side that you aren't living with a renovation loan?

We lived in a little apartment above the garage and rented out the main portion of the house. 

The couple who lived right next door to our development have an old home that they rent out- it's about 1000sf on half an acre. 

I'm planning on buying a small multifamily first and foremost so I have a place to live and then will either buy a single family or another multi family depending on what I can find/fits my criteria at the time.

Quote from @Steve Tokita: I am an out-of-state investor living 1500 miles away from three properties that I am currently renovating to rent or to flip. 

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

The single biggest advantage of selling your homestead is that you can take all the Cap gain tax free if you have lived in the home as your homestead for 2 of the last 5 years.