Why not buy the house youd like to live in with the land at a price point you can afford and then generate as much extra income as possible from the land.

I had a work colleague (CPA) set up the LLCs for free ($125 secretary of state fee) and had an IRA services company draft the operating agreement for $225 I think. 

Is it generating revenue now or are you just buying the property to turn into a group home?

Day one on a smelly property...1) Replace the air filterhttps://drive.google.com/file/d/0Bw6cqx4ldU2hSEZMU...2) Let the Ozone generator RUN!

I bought my first home November of 2017 and I am going to figure out how to use the spare bedroom in my house to generate some income (Air B n B/ Renting it out are the ideas I plan to lock down by the end of 3Q). 

As I mention in other threads this business can be trench warfare, I would take this time to understand what you are committing yourself to and prepare by building the necessary components of an operation, not tangential fluff.

I have some property management opportunities underway to help generate some cash flow on a steady basis, plan to act as an agent for some additional cash flow, and also have an interest in flipping homes. 

For me I bought a home in Summerlin and moved my residency to a state with no income tax.. as I generate income in 14 states a few of which have no state income tax.. so that helps. 

Near Covington, WA in King County, 8 Beds, 4 bath, coin operated laundry.

Buying a non-performing asset (an asset that generates no income), that I am only going to sleep in that sells for 6, 8 or 10 times the average income in a particular area, is not something I thought was a good "investment" in 2006, nor do I think it is today.