If we have tenants that live in a unit for a few years and asked about a cat or smaller breed dog, that's a different story.

The numbers look good, you included many categories posters frequently omit, be forewarned real life never lives up to these projections.

@James N Beliak I'm a Canadian living in Florida now, investing full-time down here. 

I’m from Cameron NY as the location thing wouldn’t allow me to put my town I live in for some reason.

I am still developing a strategy but I would like to rent out a place that me and my family would feel comfortable living in ourselves.For work, I am an AI analyst for the Army Corps of Engineers.

If I take tenants out would my commercial insurance and flood insurance go down since I will be living in the 2 bedroom upstairs.

I told her the amount and he is an older man who lives off her social security check.

Hey BP,I'm thinking about purchasing this deal as a live-in FLIP.

very interested topic, I live outside Philly, arv sounds about right. 

Single-Family Home with a Basement:Pros:Familiar single-family living with potential rental income.Can be a good starter home, quieter living if the basement is well-soundproofed.Potentially lower initial investment compared to a duplex (depending on renovations).Cons:Finding tenants might take longer, especially if the basement isn't a fully formed apartment.You'll be responsible for all maintenance and repairs for both units.Less separation between your living space and the rental unit.Multifamily Duplex:Pros:Clear separation between your living space and the rental unit.Potentially higher rental income with a full, separate unit.Faster tenant search as it's a more traditional rental format.Cons:Might be slightly more expensive upfront than a single-family home with a converted basement.Potential for noise complaints if the duplex isn't well-built.Dealing with potentially two sets of tenants (though vacancy rates are typically lower with duplexes).So, which one to buy first?