Maybe look at FHA 203k...google it..At the end of the day if the numbers make sense in your area then it's pretty cut and dry...Also if your circumstances allow you may want to actually reside in the in-law and rent out the rooms individually in the house which will almost certainly generate more revenue. 

Your generational wealth is built over the long term holdings of your assets and building upon that... 

What if the “flips” start generating more income than our work as Realtors, even though the time spent is considerably less? 

We'll see if that generates a little more response. 

You're reading too much into this.Here's a random example FHA LE, set up the way FHA are typically set up.http://bobheinmortgage.com/wp-content/uploads/2015/10/LE-Example-3.5-Down-FHA.pdfThe UFMIP is on page 2 box b, page 2 calculating cash to close, and page 3 it's included in the APR.

It's also close enough that you can just pick up on a random day and go look at a bunch of properties, meet people, etc. and it could take only only a few hours (as opposed to flying halfway across the country).

Then you also have to do other forms of PCADs and can definitely achieve compliance, there's just a few more hoops to jump through and paperwork to generate.  

You will likely have an easier time collecting on any damages from them than a random tenant.  

Secondly, congrats on being debt free, that is a huge accomplishment especially for people of this generation!  

There is just a ton here for a Random Forest model when you join the Assessor file.