This is just some random Airbnb customer service person, so I wouldn't take this to court, but it seems fairly clear that what is being suggested is possible. 1.

Yes first-time buyer DSCR is actually fairly common, especially here in Southern MI. 

I've done fairly big renovations where in most cases, Im replacing almost everything in/on the house.

Real estate investing has been a passion of mine for time with my mother also having invested early on where I likely have gotten the love and desire to follow similar foot steps.I have taken last 6 months to educate myself and currently own a single family home as primary residence and would like to expand to multi family properties (2-4 units) for additional stream of income, not to mention potential tax benefits for long-term investing.Based on current living situation, I have a fair amount of equity established in my primary residency along with having enough cash to either pay off house completely or use towards investing in a multi family property.Given that I'm the sole source of income for our household with my wife being the home maker for our two kids under 2, trying to weigh out risks with getting started now or perhaps waiting. 

I want to make sure that both of us feel like the deal is fair and equitable for the risks and rewards involved.Any guidance on how to approach these key questions would be greatly appreciated!

For example if you were to exit a new build in 5 years there may be no cap ex cost (i can think of few cap ex items that does not last 5 years - maybe carpet in class c and lower), just maintenance costs which would be fairly small.Best wishes

It's a fairly unregulated space (charging grandma $750 to puts around for 3 hours, after moving the old box from the horizontal sensor, which was the only problem with the garage door to begin with), so some combination of carefully reading reviews (you have to actually read them to make sure it's not 200 fake reviews), and maybe not giving them the full contract all at once, is in order. 

And, I think its fair to say that we all may forget what people say or the information they provide, but we all never forget how someone treated us and made us feel! 

I mean, you don't need to clean the property or pay local taxes since there is no use so I think this is pretty fair.

Sejin - Have you read your fair share of books as well as listen to podcasts?