There are some exceptions as to when you can get away with a single stair (full explanation below) but you'll see it is not easy to do.I actually used to live in/rent a third story attic space with a single stair, and as a tenant I thought it was fine.

We currently live there.

As a first-time house hacker you want to maximize your revenue and minimize your living space to make the most.Also, there are 2+1 units which are 2 legal units and a 3rd boarder unit (either in the basement or the attic).

The area I live in has no restrictions on how much you can raise the rent, but I will not be raising them all the way to what each unit should be renting for because they are great tenants.

Conclude with: The wonderful neighborhood in which you chose to live has many longtime vigilant residents who do not want their way of life to change.

We are purchasing a house with the intention of living in the house for a year and turning the property into a rental.

I would be happy to have a conversation about Indianapolis. 

@Tonatiu Ortega that's my specialty, I'm very involved in the 2nd lien conversation(follow me on LInkedin for more!).

While I am wanting to buy a property in this area within the next 6 months rather than rent, I’m lost on if I should HH or look for a distressed single family home I can rehab while I live in it to force appreciation this way?

I live in a smaller and older suburb of Fort Worth where I am less likely to get tracked down (I see evidence of work on properties all around me that are clearly not permitted or up to code), but also know that the specs on the house will change with the appraisal district once I get the property refinanced.