I top unit just extended their lease for 6 months, the bottom unit needs a new lease and is currently month to month.  

Most likely everyone has a "bottom dollar" which is not what is listed.

The bottom floor is split into 2 units, the top floor is one unit, which is stylish like a loft.

I see a section at the bottom named "Miscellaneous Income, 1099-A, 1099-C", inside which there is "Other reportable income".

I cleaned the place top to bottom...he inspected with me present, found a few things that I cleaned some more.....and then tried to keep my entire deposit.

I am purchasing a property that has two residential apartments on top and two commercial shops on the bottom.  

The lender will order their own.And know that 2 appraisers using the same comps will come up with a different bottom line. 

Alex this is simply landlording  does not matter how you come about it or where you choose to do it.houses take maintenance  they take effort to keep on top of .. .tenants trash places.. tenants skip on rent etc etc all of this effects the bottom line.. no matter how you bought them where you bought them etc.Just think of those poor investor who flocked to Houston and have no flood insurance.. they are about to get totally wiped out.. never will be able to recover .. as cash flow will never equal there loss's or it will take 30 years.. how was anyone to know that was a poor investment at the time.. 

Others might want more Cash Flow than appreciation.The bottom line is you have to decide what makes a good investment for you.  

I'm living in a building in lockport New York area where there are two apartment units in the upstairs area and a commercial dining area in the bottom.