The great thing about them is that if one unit becomes vacant, the other units can still help cover your mortgage.

I also understand you can charge them a certain amount as a penalty....1 month rent to cover the downtime for finding a new tenant. 

The real issue I found relates to my insurance/umbrella policy, as there are certain breed restrictions they won't cover. 

If stability is more your style, the home equity loan covers you.

Check with their renter insurance (we require them to have this) to see if they will cover. 

Of course capex does come into play, but I have a lot of factors on my side including most major components of the property have been replaced already, including roof replaced 2 years ago, water heater replaced 3 years ago, full house was just repiped, septic system is 5 years old, HVAC system replaced in last 7 years, i do not cover appliances with warranty in my rentals, and the tenant I placed in the property is a single dude who works 60 hours a week and just needs a place to sleep.

Use the holding costs recouped from the mfu to cover new holding costs on the primary residence, and likely pay oop on the PITI with PMI10.

Given these concerns, you might consider asking the seller to either repair the issues or offer a credit to cover estimated repair costs.

To me, any liquidity qualifies: bank letters, bank statements, stocks in an investment account that covers down payment, etc.Today, I got a letter from a hard money lender saying the buyer is approved for 1/2 the listing price of the property.

The question is, what is your bottom line and will the rents you can charge cover that?