But… if the renting out rooms doesn't qualify as your primary and you wait until year 2 to start renting out rooms you’ll be forced to sell before year 5 or you’ll be back to zero tax free again.

If you ever need any advice or just want to chat about the industry, feel free to reach out.

Some of the best tenants I started on a month to month and then transitioned them to year leases. 

The idea is to understand how to make the financing work on my end and come up with some budget then start approaching land owners with a set plan/offer to see if any of them are willing to sell.Need some creative ideas from some experts to help me understand how I could make something like this happen.

When these homes get listed, we get photos and the 'dream of owning your own vacation home' So we have to start with price & location..if those both meet the criteria, then we hone in on weather we want one that has not been taken care of and likely not generating enough income to cover expenses or one that is fully themed and likely will continue to do well if all else stays the same.

This got us in the game with very little of our $ to get started.

. $20k isn't enough to get started, but it's some real progress.

Hi Daniel, Would you be utilizing one of the units in the duplex as a primary residence or do you plan on renting both units from the start? 

I would start by removing carpet and cleaning what you can, paint and then ozone as long as it takes.Ozone is cheap, but with fresh paint and new carpet it might ad up to $10k.

I started off in 2009 spending 3K on 5 liens and I got burned on two of them and lost most of my money.