Let's make a master thread.

Units separate or master metered? 

Do a Subject To, Lease Option or Master Lease Agreement? 

I am single, no pets, and I have a 3 bedroom town home.  1 Master, 1 office, and 1 room for my parents who visit 1 week a year.   

One is an acrea and a half in a nice subdivision, but it is Reserve B as a part of the master drainage plan according to the CCRs. 

If not a true apartment, can you find a place with a split bedroom plan and give Grandma the master suite end of the house and have an exterior door?

@Sebastian Roy in order to successfully manage your tenants you need to master tenant LL rules and state laws as they apply to tenants and LL's.

I can figure most things out but I'm no master carpenter and my appetite for doing big projects myself is non-existent.

😁 I think  we will end up doing what you suggested unless we can find a place we can rehab and put in split double master's.

If you ever buy something, be fully aware that it’s a highly illiquid market with waaayyy too much supply and if you make a mistake or change your mind & ever wish to sell what you bought, that can take years to do.There's a "Master Poconos Thread" here on BP with contributions from a lot of local experts.