It would be considered to be the safest end of the spectrum.  

I just include the utilities in the rent.

But in my opinion, the biggest issue I see with folks jumping into their first "big" multifamily deal is the quality of the pro forma. 

Perhaps we "buy" the house from them for the $328K balance to satisfy the lender and don't need a large down payment and then have a separate contract with them to pay $x per month until we've paid the full $172K amount.

welcome, would love to connect and network. congrats on the move

Have you looked into the markets you want to be in?

You filed two full year tax cycles and the numbers are similar (no greater variant than 1%) they maybe yes.Generally depreciation is added back as income BUT only the 40% portion you own not all of it.

I highly recommend you read the SEC filing and the 1U Amendment.

I'm looking at all kinds of properties, all over the city.

depending on how backed up the county is it can e take a few months for court date. in essex county it took my mother in law about 8 months or so for the full process. she had an attorney, not sure if that sped anything up