I would start with those that have been around a long time and are larger in size.

If the health department felt that there was an adequate field to support septic for a larger dwelling, they would have said so from the very beginning. 

@Dustin Sanders We have a couple of options that can still do a 15% on DSCR, but as Stephenie eluded to above, everything else has to sort of line up in a perfect scenario to make it work.

In larger multifamily investing it's about finding opportunities to increase revenue and/or decrease expenses to drive value.

Do you want a 5% return or an 8% return.Second - determine what the rate of return will be from ownership of this property(Both cash-flow and appreciation).Is the second number larger than the first number?

Being able to use real estate to offset taxable income requires some sort of participation on his end.If he wants you to be the boots on the ground, it will likely be hard for him to reduce his taxable income.

Also, how would I analyze the numbers for this deal, because there are various ways it could be used, either separate or possibly all together for a larger group.

These can provide good cash flow and are easier to manage than larger commercial properties, especially when you're just starting out.Also, when I was starting, I found local meetups super helpful.

Mostly due to the fact my spouse and I agreed on her to have zero involvment in any sort of RE investing (and its our home) I think once you have a good 6-12 months of reserve cash (operating expenses for your own life saved as a back up incase things go bad) save enough liquidity to get the ball rolling on your first invesment.

Also, for people who wish to pursue larger real estate ventures, you don't personally need to be able to analyze a deal, and can possibly partner with someone who does or even hire an underwriter.