Keep in mind that a rule of thumb is simply a rule of thumb. 

The main thing to keep in mind as a true investor is, can you simply add square footage to the main property to get the same sale price if you're planning to sell the property.

I find little reason to pay for a service when it takes so little time for us to simply split the water bill as agreed when the tenant signed the lease.  

That doesn't cut it for me.

I think from all my years around these investments where most investors get in trouble is they simply do not realize that once they made the investment they no longer have any control. 

So many LOs were preaching mortgage rate cuts, this time around, and now I am seeing rates still the same, if not even slightly higher than what they were a few months ago. 

If you are simply return driven and risk-averse, then it's not a great fit. 

I am not sure there is an easy way to identify attorneys who have experience with note transactions without simply asking them.

So if lots of parking, ideally walking distance to busses or transportation to cut down on cars, you might get away with it (legally).Operationally;  this is a can of worms to manage. 

When you say the 2 plex appreciates more, are you talking about forced appreciation or simply the value going up as the market goes up, what I'll call simple appreciation?