I don't think there would be any issue at all if I were grossing 500K a year!

these homes are traded more like commercial properties.. once they become rentals they pretty much stay that way the rest of their lives... so the resale value is totally related to the gross rents.. as each investor gets taught the 2% rule or 1% rule etc etc..

And thus I focused primarily on properties I could make into Class B+ or Class A.  700-1000 for a 2 bedroom, 1250-1500 for a 3 bedroom, I also tried to keep rents at levels that are realistic instead of fantastic moonshot projections.I never felt my rentals were ever going to be massive cash cows, as I generate around 0.85-0.9% of my portfolio cost in monthly gross rent, but I am happy with it and as are my tenants. 

For example, a $60k duplex with $1,200 gross rents will not perform as well as a $90k single family with gross rent of $950-$995.

(feel free to tell me If I am wrong.)Gross rent = $4,775 p/month x 12 = $57,300Vacancy rate of 10% brings it to $51,570Consider 45% to %55 for expenses and management brings my NOI to $23,205 - $28,365NOI/Cap Rate$23,205 / 8% = $290,000$28,365 / 8% = $354,500@ 70% LTV that gives me a range of $58-$100k to pull out if my math is correct.

You MAY get 1%/m gross in a multi that you also want to live in - not forgetting to subtract the percentage that you miss out on because of your occupier status - meaning that it'll be a fight to find something that'll cost you less per month than if you rented there - but I have confidence that you have the right attitude and foreknowledge to succeed.

I understand that 10% of gross rent is a standard  management  fee.  

I talk in terms of Gross Salary, of course with write-offs and deductions we claim/make less. 

Yes - if you make 401(k) contributions it will lower your Modified Adjusted Gross Income (MAGI) which is used to calculate the phaseout.2. 

Currently 3 of the 4 units are occupied grossing $2240/mo income.