I’ve been reading about how some investors fund their properties on FHA loans and live there for a year before converting it to a rental.

Here are the options I’ve outlined:Traditional duplexSFH with a basement to convert to a small lower apartmentSFH with correct zoning for an ADU (Alternative Dwelling Unit- more reading here:Pre-purchase two townhomes from a developer before they go on the marketWhat would you do?

This property was previously used as a legal duplex and could have easily been converted back.

You gotta pay 2% origination fee, $6,000 due diligence fee per $1MM, 10% per property you acquire and then you only have so much time to then re-fi out of that to convert it into long term debt.

Those are typically 20% down.So with that said, the DIS-advantage of keeping it in the ROTH (or Traditional SDIRA) is that you can only leverage to a limited degree, AND the fact that there are a lot of 'rules'  that go along with the non-recourse loans such as 50K minimum loan size, no pre 1940 homes, no houses converted into duplexes etc....

I have found a property that has an unfinished basement and a separate garage/workshed that looks like it could be converted into a studio.

Without any medical history or complications, it is reasonable to find term life insurnace for $50-$75 per month even for a 30 year term policy.When looking for term life insurance, always ask for a "convertible" policy with "guaranteed insurability."

I instantly thought of converting both side to 3 bedrooms. 

If the furnace is a heat pump, then it makes sense to convert HW heater to electric (when needed).

I am trying to convert the 4th unit of my quadplex into 2 smaller units making my building into a 5 unit.