If my strategy is to have their rent pay part of the mortgage and invest in renovation in the unit i'd occupy, does this sound like a good strategy to raising the value?

With my down payment, closing costs, and renovations, I will have put down around 70k (down payment and renovations).

Possibly even purchase something that needs some renovations - new kitchen, baths, flooring. 

Similarly, if someone slipped and fell at one of your multi family houses, they can only go after that one multi family house and not the other homes or house flipping llc.  

If you are referring to design, amenities, stocking and renovation, I have plenty of experience!

Hello,  We own our house free and clear valued at about 580k.

This deal showcased our effective renovation strategy and commitment to delivering profitable outcomes.

However, I have a daughter at CU Boulder and it would be easy to check on the STR/MTR house while visiting.   

We are novice home buyers and novice renovators.

Acquisitions team, renovation crews (fully licensed and insured), Property Management, and a Real Estate Investment Brokerage in case you ever decide to sell.By teaming up with a solid firm you can mitigate your risk and have some "boots on the ground" that have your best interest in mind.