Hey Josh,Good question, but there's no right answer to the question :) It really depends on your family's situation, and I would think with children in the mix it gets exponentially more complicated...cleaning up properly, keeping power tools out of the way, keeping hazardous building materials away from them and out of precarious storage positions.Actually, my wife and I are under contract on a property where we're going to do just what you have described.

If the area is mostly 4 bedrooms and you have a 3 bedroom it is going to make a bigger difference then if it is an even mix of 3 and 4 bedroom homes.

@Marissa Barrios I believe you are mixing different state statutes for tax liens.

Personally this is why I wouldn't mix the two.

If it cash flows on top of that I'd be delighted but to me, living for free is a cash flow.

Then I moved up and purchased a 4 plex, mixed use property.

Period.Never mix business with personal.

I have done a few months of basic research but still have mixed ideas.Idea 1: get home equity loans say for $160k, and buy a duplex for $160k or less.

We have been getting mixed opinions from other investors locally.

You just have to be extremely careful because you can NOT mix IRA and other money together.