The house is huge, has a completely separate MIL unit and is close to great commuting routes for quick jaunts to future jobs (I currently work from home most of the time).
Best part is my actual cost to live in the house after factoring in MIL apartment rent, principal pay down and tax benefits comes out to $300 a month. On top of that I have several additional bedrooms and baths in the main house still, some of which I could rent out if I fell on hard times. I still have my other rentals, but I liked this for the ability to subsidize my housing costs. Also, I could rent out the main house at any time and more into the apartment living entirely off my investments (other rentals) if I wanted to. Or I could rent both portions out and make 2K a month profit.
Although I expected the quality of the people who would rent a MIL apartment to be lower, I was quite shocked at HOW low. Not only did I have people with serious felony convictions reach out, I had people who were just plain idiots. I had people who got evicted from their one and only apartment ever after a mere month, but they swear they are a good tenant and will pay that landlord back (even though they have had years to do it).
I also had people who thought I was renting a 6 bed 4 bath, 600+K house out for 1K a month complete with granite counter tops, SS appliances and 3 car garage (this would rent for 3+K in the area). Then there was the lady who refused to tell me her income three times, citing that she could afford it, even though she had just told me she had to move out of her apartment last month because she couldn't afford it on a Denny's waitress wage.
Yep, there was a whole new level of stupid to deal with, but alas, I did rent it just over 30 hours after closing, to a guy who makes 5 times the rent and has excellent credit, single, easy going. Here's to it working out, luckily the unit is above the garage and has separate parking/entrance. Time will tell if the arrangement will work or if it will be too much like apartment living. In any case, I'll just convert both to rentals and buy something else if it comes to it or move into one of my other houses if it comes to it, but due to the location and the subsidized housing cost, I want to make it work.
I had already managed to rent out my existing primary residence before closing on this house, long before closing. Strong rental market in the Seattle area. So now I have 4 rental units, and a primary residence. It's amazing, I've noticed that now I have enough tenants that I am actually starting to see it as a part time job, there is enough time involved.