You don’t need to invest where you live.

That can really throw off property values.Just move on to a different lot if you can't live with these restrictions.

Reduces your living costs a ton.

We live in Seattle, so somewhere on the West Coast would be ideal.

For tax purposes, does anybody have an idea of what this would look like as I would be living in one unit, renting one-unit long term, and then short-term renting one unit to maximize cash flow and write offs against my W2. 

So I bought this house for me as personal residence & did live there the 1st year.

We are not allowed to do garage conversions but we have a 2nd living room. 

Is there enough for you to live on?

I’d recommend taking a deep breath and not worry so much about ARV, CoC and just look at a way to decrease your cost of living while buying your first property.

My parents live on the other side of the country and we've agreed that I will manage the property on behalf of all of us and I will be the public face for the tenants.