This strategy can generate quick profits but requires a good understanding of renovation costs and market trends.House Hacking:Live in one unit of a multi-unit property while renting out the others.

There were a handful of issued that required some decision making but other than that we have a really good crew down there and they make my job super easy.

@Jordan MyerThank you for the advice, I think that is what I am going to do as they are good tenants generally, they just need to comply with the occupancy requirements which can be fixed by updating the lease and ensuring there is no fourth occupant.

But when you login to BiggerPockets the poll on the right hand side, ask people what are they gonna buy this year and the majority of them are saying a rental property , why?

Quote from @Andrew Syrios: $200,000 at 22 is a really good place to be quite frankly. thank you, it has required an immense amount of hard work and sacrifices but it’s been worth it. 

It is popular amongst investors because you don't get capped at a certain amount of products, it requires less paperwork, and it doesn't look at DTI/taxes/income.

There are strategies that you could do to try to get future paper losses reducing your active income, but those require you to change your income-earning activities.

However, modern appraisal practices require that these spaces with low ceiling height be valued LOWER similar to how a finished basement is valued.

Costs will vary depending on location, site conditions, development requirements, zoning requirements, type of construction and the level and scope of interior finish.

But in Florida and Alabama, if anything done requires a permit then only licensed contractors can do it.