@Matt WeddonLegally, you’re covered as long as you stick to objective, non-discriminatory reasons for rejecting someone (things like personality or ‘vibes’ don’t cut it in Fair Housing law).

Alternatively, you could split it between House 2 and 3 in a way that covers your building budget for the apartment.

After they asses what all needs replacing or what they feel needs replacing they'll submit to you what they're willing to cover and deductibles and payments etc. 

Invest in some awesome parking facilities, like garages or covered spots.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

The 20 years covers your kids potential needs.  

The issue is, I'm not sure if my income will be enough to cover 2x the monthly mortgage payment that most loans require.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

I have a buddy that has been doing flips for a few years and he now has investors approach him asking to get in on his flips so he lets them cover the down payment/entry fee's for 30% return on their money.

we have several properties now in McHenry County now, and we are looking desperately for an attorney that covers that area.