@Thomas TalbertI recommend finding a tax strategist specializing in business taxation and business tax planning.

I plan to get a 3 bed with a garage which I will live in, and rent out the bedrooms.

Gastonia:Kannapolis:Big Ideas in Kannapolis Downtown Plan (over the course of 20 years starting in 2015)1.

If you plan on managing it yourself, you want to be close to monitor any improvements and get familiar and comfortable with the entire process.

With this house being bought in full the plan is to get a HELOC or HEL to purchase another property when finished.What made you interested in investing in this type of deal?

We just closed on a $550,000 home and plan on renting the duplex out.

Living on-site will have you being interrupted with door knocks on a regular basis.Now, if your PM is mediocre or worse, plan on doing a lot of learning or find a better one.   

In a competitive situation, this isn't always possible or the best recommendation, but in most circumstances you should try and plan for it.First step in due diligence - > PROBING QUESTIONS! 

The plan for that is either rent out my room or convert it to a sober living facility.

I’m also curious because I’m trying to plan out my purchase later this year, and exploring all options.