She's also likely to be causing your tenant in the lower unit to have a higher heating bill.

That will get you looking at cash flow and end up in a lower rated area than you think.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

.- Investors get access to real estate cash flow with lower costs and no landlord responsibilities.- The whole process is simplified—no co-ownership legal headaches.I’m curious about the pros and cons of something like this.

These rates can get very high, but access to more lending unsecured if needed. 

Look for a place where you can secure items that you do not want tenants to have access to. 

This allows you to access funds while keeping your existing mortgages intact.Second Mortgage: Explore lenders who offer second-position loans on investment properties, though rates will be higher.Cash-Out HELOC : While traditional banks often restrict HELOCs on non-owner-occupied properties, some portfolio or private lenders may offer HELOCs for investors.With $15-20K in liquid funds, look for deals where you can negotiate terms:Seller Financing: Negotiate lower down payments or interest-only periods.Subject-To Financing: Assume the seller’s existing mortgage while covering the down payment.Lease-to-Own: Lock in the purchase price while using rental income to build equity.

If you have access to some money you can increase your equity in one jump.

Accessibility and local knowledge above everything else. 

One of the biggest mistakes I see investors making is they forget to address things like HVAC, siding, etc when they have access to a hard money loan.