@Cody Caswell depreciation, mortgage interest, insurance and one time expenses(non recurring) are considered add back expenses.

Some questions to consider:1) How much negative cashflow can your other income stream(s) support?

Each unit would be considered a "property" and have its own listing, smartlock, etc.

Quote from @Gary Campanaro: I wouldn't consider it unless it were agreed to up front.Cancellations are part of her business, and she needs to accept that.

I'll still consider it when I have a deal for which I need financing, though. 

Find one that can be custom to your needs, has flexible pricing, no long-term, high-cost memberships and excellent customer services to determine how to best market to your leads.

@Kendric Buford Considering a Duplex, TriPlex, or a Four Plex.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

@Regina Story consider vetting Xero, REI Hub and RentalHero.

Look at all the differences in both rate and terms but most important in my opinion is their track record in customer service and meeting deadlines and closing.