Thanks Seth, yes the thought of the extra income is a bonus. 

This reminds me of when you finish university and employers are asking for 5 years experience for an entry-level position and then you manage to get that one job and you smash all the records of all the folks who have been working there for decades and your manager start throwing bonuses at you. 

If you own your own home, you reduce your risk by having a stable cost of living while you build your fortune.If you start with a 1-4 unit you will get all the advantages of personal home ownership along with the bonus opportunity to have others pay your costs. 

@leigh Talbott: Knowing someone that lives in your market of choice is a nice bonus but only if the market fits your investment objectives and criteria. 

Aw  heck, I am feeling generous tonight, I will pay three times list price. 

If that isn't a bonus I do not know what is. 

While some may see this as a bonus inspection to make sure the repairs are done correctly, I see this as a level of bureaucracy that will delay your project and your cash-out refi.

Background: 1900 sq ft SFH 3/2 + bonus.

@Jordan Moorhead was super generous with a few hours of his time yesterday and I feel somewhat more comfortable with the idea of leveraging against our current home to fund something like a BRRRR or flip. 

Added bonus, you can rent it out while you live in the main house.