You have multiple who do this for a living telling you how it works.

Yea, the guide is a living document that I've updated several times throughout the years.

Some neighbors also told me that there seems to be more people living in the house (on the lease its supposed to be the lady and her two kids 4 YO and 8 or 9 YO).

To any experienced investors willing to show me the ropes a little more in detail be more then happy to message me, I live in the Southern California area to be a little more precise.

Or paying off my debt, while I provide them with a nice house to live in instead of an apartment. 

My wife and I have done all the terms (short, mid, long term rentals) and have done some live in flips.

My credit should be the highest allowable also and I shouldn't have problems with approval.Ok, i shopped about 80 lenders (based on Fridays rates, market is closed so no live pricing)Conventional Full Doc loan you would be at 7.875% if you put 20% down (you said what the house was worth, but not your purchase price). 

My dream is to achieve financial freedom through multifamily rental properties and live life on my own terms.Recently, I have been reading one book after another, trying to absorb as much information as possible, and am extremely thankful to finally find this amazing community.

The law does NOT apply to landlords:With less then 5 rental unitsThat live in one unit of a duplex and rent out the other unitThat rent out rooms in the home they occupySo, landlords can no longer state in their rental ads, "Section 8 not accepted".The reverse is also true, "Section 8 only", cannot be used.We've always recommended screening S8 tenants the same way as cash-paying tenants.Landlords waiving application fees and/or security deposits only for S8 prospects may also be violating Fair Housing.

I live in Sheboygan Falls, WI.