I rented out the additional bedrooms to friends and family, charging them well below market, and sold when it was time for my wife and I to start our own adventures.

If 1 tenant isn't paying rent, at least another tenant will.

Over time, rents may increase, improving your cash flow, and you’ll gain equity and valuable experience managing tenants and property operations.

The tenant fails to pay their last month's rent and leaves the place needing new flooring and paint.

All things being equal, I would accept these applicants, but I would require them to pay a deposit equal to two months of rent.

If you are single, look for uneven multis where you can live in a small unit and rent out the bigger one (e.g. - 1/1 and a 3/2 instead of 2/1 and 2/1)2.

From what I’ve seen in Forbes, the infromation on market trends can also help pinpoint the best neighborhoods.One last piece I’d consider: do some legwork on rent comparables in the area so you’ll know your break even numbers from day one.

The tenant who occupies the property pays the rent.

While the traditional approach involves buying a multi family property, living in one unit and renting out the other - with rising prices and interest rates; others have considered renting out bedrooms as unit spaces. 

If I keep it and rent it out, I will have around $70K in equity @Guillermo Perez   Just curious on why 70% instead of 75% loan to value?