My daughter went in on it with us- she will own her unit, and we are renting out the other 2 units. 

Hi, Just bought a unit via LLC in Nashville area, specifically in Berry Hill to operate as STR.

This is regardless of whether the unit has been renovated or not.

This would help you get going.You might be able to make these a  little nicer and force appreciation and a little higher rent.Either way rents will go up over time and the mortgage with remain constant.Maybe even make one unit a STR which could see higher income.I'd be ok with break even or a little bit negative on a Quad given you have 4 properties in one.If you're only breaking even you still have depreciation and other tax write off to help you out.I usually make people 3 offers.

They are able to See a COC return within weeks of the down payment, when the unit rents. 

As a would be individual landlord with just a one unit single family property I don’t know I can stomach the risk or withstand a financial assault resulting from an eviction process for a non-paying tenant (or tenants that do extensive damage).I am seriously considering bowing out and selling.

A nice multi family property that you can do some light fixtures on sounds like a perfect strategy for you so you and your wife can have your own unit.

First recognize that 2 to 4 units are valued on comps and not cap rate.  

Paid a little less for an apartment unit in Arkansas, but it was much smaller.

The graduation for many successful AirBnB operators are 5-25 units hotels where licensing and permitting are inconsequential.