You are not even scooping your initial investment so your cash on cash return is negative.

Is your $15k even enough of an emergency fund for you personally?  

Both loan servicing companies and insurance companies can be such a nightmare to work with even under normal circumstances.

Even at $1500/month that is $18,000/year… so I’m having trouble understanding $150,000/year unless you are building 10 free and clear rentals?

Even though your market might prove expensive, I would exhaust all options before ruling it out.Truth is, you have a unique competitive advantage in your market.  

The property itself should bring in revenue ( even if you choose not to live in one side) and generally a bank will accept a portion of that rental income into the calculation. 

We always like to believe they wouldnt do that, but believe me, it happens, even when you dont expect it.

And could even get a second home loan if doing traditional financing.

***EVEN IF YOU CASHFLOW IN REAL LIFE***Ready for the boatload of cherries on top?

I've read many of the BiggerPockets books like - House Hacking- Flipping- Estimating Rehabs- Multifamily Millionaire Book I and II- How to Invest in Real Estate with Low or No Money Down- Investing from a Distanceand even some outside of themand have been wanting to do something in Real Estate for awhile.