It’s a risk vs. admin trade-off.Early on, many investors use one LLC (strong insurance + umbrella) to keep costs simple.As equity grows, move to 1 LLC per property (or state-specific LLCs) for better liability separation.If buying multiple in one state, consider a holding-company + child LLCs (or series LLC where available) to isolate risks while centralizing management.

More people are focused on celebrating the holidays(which costs money).People are less likely to want to move their child out of their school in the middle of the year.Can you sell a home at the end of the year - yes.

Vestin Mortgage was the poster child for this.

We looked into house-hacking, however there are not any multifamilies around that would be able to support us, our child, and two dogs.What would you do if you were in our shoes?

Can’t remember why I say the person should be a child.  

The only other tact I would take if I had say $5mm or more and the child was young would be an Insurance Annuity product spread over 100 years subject to death.  

Around 5 years ago the state changed the inheritance rules so that the property 13 benefit only stays with the property if the child of the deceased moves into the property (there are a couple other exceptions such as agriculture/farm that do not apply).  

Then onto the mentioned city-owned grocery stores, "free" mass transit, "free" child care etc etc etc.. 

If you treat it as a rental, you give up the homestead break but you gain depreciation, expense deductions, and the ability to show rental losses that might offset other income depending on your situation.Since your child is living there, many parents keep it under the homestead rules for the tax savings and simplicity, especially if the rent from friends just helps cover expenses.

Unfortunately, the parents didn’t have a will, and now the adult child is concerned about what to do with the house.