I'd imagine if it is a 2 story home with a bathroom only on one floor, that adding a half bath to the other floor may be a good idea. 

You must occupy the residence within 60 days of closing and live in it as your primary residence for 12 months before renting out other units.Do this several times and you will have 3-4 performing (hopefully) 4 plexs (or tri or duplex) and then you can look at doing STRs.It would create a great base for you to work towards early retirement. 

There are a ton of great neighborhoods in the greater Sacramento area, where you will see solid rents and good long term appreciation.

My rent will be paid by the rehab center and not the actual residents so I'll have no vacancy or turnover costs.

What I am good at is focusing on a person and asking questions and finding something interesting.

It can be a good way to keep your costs low while having access to funds for future opportunities.Ultimately, your decision will depend on how quickly you anticipate finding another deal and how much you're willing to pay in fees.

After residing in FL for two months, we are excited to be under contract.Now, we are seeking advice on the next steps:Should we engage a CPA or lawyer for setting up our LLC?

Not good. 

Good Morning!

You should take advantage of the personal residence tax benefits.