want to get to a point that I am living off unearned income and not earned income. 

@Austin SargentHouse hacking is a fantastic way to kick off your venture into real estate investment, particularly with a duplex in Pensacola, FL.

And if they have to get a new loan that can be time consuming and Boom.. the original seller gets their credit trashed waiting for the loan to get paid off ..

It is getting better, but I think this year will not be like the good 'ol days when everything was flying off the market within a week.Take a look at what is on the market around you and be honest about what homes are better or worse than yours. 

I've paid off several 15s and don't regret going that way on any of them. 

I think the area you should avoid mostly is anything off of Murchison Rd.

His final determination (3rd choice) was Schedule E, although this is not what i expected and is not nearly as beneficial when it comes to writing off expenses towards my income / lowering AGI as schedule C.

Is there an opportunity to buy it off market somehow similar to a foreclosure?

This time I dropped off the application with my Deed and received my rental license 4 weeks later!

A vast majority of appraisals are valuing the ADUs less than the hands off cost of adding the ADU.