I mean, in terms of real estate, how bad are NINJA loans (No Income, No Job, No Asset)? 

So, when Trump changes to no tax on tips I feel inclined to change my rental income structure.50% reduction in rent.Previous 50% made up from a mandatory nontaxable tip. 

Since comps are limited, analyze similar nearby locations to estimate demand.When pitching investors, focus on a clear business case: expected income, expenses, occupancy, and ROI.

Mortgage lenders will qualify you for a higher purchase amount for multis than they would on a single, because they will count the rent you will be making on the other units as additional qualifying income for your loan application.

The guy is meeting the rental criteria income wise.

Live way below your means and save the majority of your income.

For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.

The reason not to upgrade, is that you won't get that much more income for the cost of the upgrades.  

This property gives me significant income, so losing it would be an extreme loss.

How much income do you need, and how much do you want?