Could you get a HELOC while you still live there for $200k? 

Can you live in one unit, fix it up, and then charge more rent when you move to another unit and repeat?

Given that you're near NYC, I'd imagine, there'd be a lot of newer professionals looking for a place to live so there should be no shortage.Id connect with other local investors that do rent by the room to see what they do for furnishings. 

I focus more on long-term strategies such as rent by room, sober living, normal market tenants and Section 8. 

Live southeast of Indy working at Honda.

.: My wife and I live in CA and earn decent income.

Str recently disallowed where my brother lives. 

You use an FHA loan to buy a 3 or 4 family, you live there for a year, and you treat the property like a value add project.

Who just brings living room & bedroom furniture with them?

But the spouse/partner isn’t screened by anyone, and that is where most landlords get burned.Here’s how most experienced MTR owners handle it, and what I’ve seen work best:Screen them as a household, not just the nurse.If two adults are living in your property, they’re both legally responsible for rent and for whatever happens inside the unit.