You may desire to look into ways to increase your leverage and use the money for other investment opportunities.You do not state what state this is, but if it is CA the property 13 reduced property tax is only maintained if the home was the primary of the deceased and will be the primary of a child (this was the case for my brother and he is still living in the home at a tax rate that is based on a 1977 purchase plus 2% max annual increase).  

Quote from @Joel Weiser: FHA DOES allow Mixed use if it's 51% residential and the borrower will live in the property.

Kishan, I live about 90 minutes East of San Diego. 

I live in Oklahoma but am looking to 1031 exchange for a STR in the Fort Walton to PCB area.  

To live on rental income in the future, you need rents that consistently grow faster than inflation.

A little about me:- I’m a recent college graduate, living alone, and currently have a very flexible lifestyle.- My ideal property would be a 2–4 unit multi-family, but I know those can be scarce in this market.- I’m also open to starting with a single-family property and renting out rooms, though it’s not my first choice.- I work in Southlake, so I’m aiming for something within 30 minutes of there (or nearby areas).While I don’t bring a large amount of capital to the table right now, I do bring time, flexibility, and a strong willingness to learn and put in the work.

You live in an area- New York City & Surrounding Suburbs that is so diverse that I recommend spending the next few months studying all of the submarkets in/around Staten Island. 

I am interested in: Dallas/Texas; co-living/rent by the room; cost segregation/other tax strategy; women real estate investors; investing in real estate internationally.If you are interested in any of the above and there are no side events already, I'd also love to get coffee / drink/meal.

Before moving here, I lived in New Jersey and I’m so grateful for that northern hustle, because it fuels me every single day in this business.

i'm direct-to-seller on the east side (i'm a realtor) and would love to connect. i like the east side (48215 and 48224) bc the communities around grosse pointe sell/rent well (grosse pointe is an affluent surburb that borders detroit on the east side). i've lived in both zips and personally like 48215 best, but 48224 is def one of the zips most popular with investors. it's got lots of quaint 1920s brick that move pretty quickly. would love to connect with y'all who're investing in detroit.