These two factors were strong indications that we would gain additional equity, and maybe even increase our net worth.While it might be tempting to think that there is no way a house with an extra mother-in-law suite will be less valuable than a house with parking, it is worth making sure that you will have adequate equity when the project is done, and that you are not overbuilding the house.

Study after study have shown that default rates skyrocket when the borrower/guarantor doesn't have adequate skin in the game.

I think (emphasis on think) I have found a deal for me but here is my situation: I am a recent college grad with no 2 year income (just yet) and I came across this property inHamilton, NJ, in which i need between 100k - 144k after all costs (rehab, closing, 20% down payment) I do not have this money as a 22 year old, so I naturally wanted to get an FHA loan but the problem is, its a quadplex that has all units occupied, so i cant really live here because there would be no space, unless there is a way around this.

Quote from @Jonathan Garcia: Well technically what I use is irrelevant considering I'm switching.I have 174 doors 63 of which are self managed.I don't have growth plans as I'm in the stage of just natural progression due to years of investing.As far as the software I want to collect rent, Fees, Maintenance request, Reports, and a system that can handle as many doors as possible with no restrictions.  

.- Wall color: light gray, satin gloss- Trim color: natural white, semi gloss- Trim type: 6" baseboard- Counter: Quartz, eased edge (https://www.lowes.com/l/quartz-countertops.html), $44sqft "A" class, gray--forget the name, or the beige (Tina really needs to go the Lowes and look at all pieces together.- Backsplash: Picked out already.

Beyond Real Estate:I love traveling, meeting new people, spending time in nature, seeking adventures, learning new things, and always up for sports (playing and watching).Super pumped to dive into discussions, swap stories, and learn from all of you.

Is this coverage adequate?

Another suggestion is for you to shop for a natural gas provider to reduce your costs.

If this was a standard rental process then yes, I'd recommend going through the process of applications/screening steps, a background check, and then require the deposit; since it sounds like the house is being rented to transient workers though, the very nature of the work situation calls for a bit more flexibility on the renting end. 

Side note: Keep in mind some items are naturally low profit margin work and some are high profit margin work.