If my strategy as an owner occupant is to buy a multifamily complex and rent it out, I do not understand how “failure” is possible.

Here are the preliminary number's. 14 Unit Complex.

Just shoring the house alone requires engineer's stamp in this area, I believe.Even if @Danielle R. has the ability to deal with all the complexities, I don't know if one would even want to.

Another term you might look for is "Subject To" - it is similar to "Buy & Hold" (the focus is on "cash flow") but is a little more complex and is most successful when taught.

Cash capital $50000-$70000Now the complex part:- I can use both or either approach.  

With your size building,,@ 6 units, I believe if it were me I'd post  Sept 1, to take affect on 10/1 the new rental criteria, / with occupancy,, that way incoming would be set to that number and existing would know they can't add anyone to their leases to be over occupancy going forward, and renewals would know if they are over occupancy you will not be renewing per the new criteria.If it were a much larger complex it would be much more difficult to implement a new occupancy limit for units that may have had 4 people. 

It is harder in DFW but you can definitely look in other major metroplexes (San Antonio).Sounds like you are interested in out of state investments and I'm hosting a meetup in Los Gatos which is dedicated to out of state investments mostly multi family (apartment complexes).Feel free to check it out:meetup.com/Los-Gatos-Real-Estate-Networking-Meetup/

I received some initial information about a complex, and I'm trying to decide it is worth a second look.It is an 12 unit building, 11 are rentals and 1 is a live in manger required by the university. 

What do you call the folks who purchase a 2MM complex? 

Don't try and do this yourself, the rules are too complex and Ontario is too tenant friendly.