@Stephen E.

If, and it is a big if, we can get this structured favorably, that would leave a 2BR with finished attic (list as 3?)

The categories are the same as your Schedule E your CPA will prepare for you at tax time so it's very simple to run a report at the end of year.

When filling out the IRS SChedule E for a multi unit property, do i list each apartment separately or do i have to list it as a "property". 1 "property" has 4 units or apartments with different rental days and expenses, etc.

Thanks @Scott E. and @Ronnie Galindo.

If you want some criteria to pay attention to I would suggest to use your "I'd be down to live/move here" list as a base and then evaluate the market metrics to see if it's a strong investment opportunity.

Don't forget Nazz Wang BP Episode 148 BiggerPockets Podcast 148: From 0 to 51 Units Despite Living in a Crazy Expensive Location with Nazz WangI also recommend @Dawn Anastasi's e-book on Milwaukee areas to start. 

Feel free to reach out to me on Facebook messenger (I'm not going to give my personal e-mail out because of spammers) and we'll go from there!

All PG&E, SDG&E, SCE, and community choice aggregation residential customers — except for California Alternate Rates for Energy, or CARE, and Family Electric Rate Assistance or FERA, customers — will have to pay this tax, and it cannot be reduced or avoided, no matter how little energy a household uses.

There's are four founders and they're all incredible people & attract a great group.https://www.eventbrite.com/e/503432118017 (https://www.eventbrite.com/e/503432118017)The Elite Investor is one I've been wanting to go to however have not made time to.