@Geoff GarberAs several people have mentioned here, and as the Russian proverb entails, "measure it seven times, cut once!" 

He then added, with a 1% annual expense ratio that most advisors charge, that return over the same time period would have been cut in HALF. 

I'm concerned that is too low, although I realize it would increase over the years and would be consistent income. 

If you could invest in a multi-family and house hack, this would allow you to invest, while (hopefully) cutting down on your living expenses to save more money faster to invest in your next property. 

Not to expand on the "family dynamics" but I would personally be concerned about having to deal with family requesting access to the property for periods of time as well.

The transfer forms are fairly simple.What we are concerned about is how much will this cost us?

My plan is to purchase either a single family with the idea of renting one of the rooms to help cut down my mortgage payment.

Just wanting to make sure we are looking at everything correctly before we get out of due diligence.PP: $305,000Seller is contributing $9150 to our closing costs and we are putting 5% down.HOA is $500/year and taxes were roughly $2800 last year.HOA has no rent restrictions but does have a clause in their bylaws concerning household composition.

One of the most concerning factors is the question of how you can protect yourself from lawsuits stemming from properties you may never step foot on. 

There was the S&L blow out that wiped out 1,000 financial firms and the developers who depended on them.The problem with using debt to magnify leverage is leverage cuts two ways.