I have both of them and so far they have been instrumental in creating a viable, long-term strategy.

Unfortunately, the house next door went into foreclosure and is now filled with people who sit outside all day, drinking and playing loud music.

What I have learned is that most properties will cash flow in any market including the expensive Boston, NY and San Francisco markets if you put the right financing instrument on it. 

look into RUB - ratio utility billing ... or if you want to encourage conservation and in an area where RUB is not permitted, face the music and sub-meter your units.Like James above, we supply the en-suite laundry units to our tenants.  

But I see no good reason to be in 1st position on a note I didn't create, because depending on where (what state) the note was originated and when, the security instrument may have serious issues of enforcability.

Now that I know how to study on my own, I have no need for bricks and mortar classrooms unless I just "want" to be there for the fun (like for an art, music, or dance class....or other interest that is better with other people).  

It simply allows them to pursue the available remedies within the security instrument and note.   

Some investors bought it and rented it out to some tenants who kindly filled the back yard with 70's car parts and 80's music.  

FHA security instruments require a borrower to establish bona fide occupancy in a home as the borrower’s principal residence within 60 days of signing the security instrument, with continued occupancy for at least one year.Any person individually or jointly owning a home covered by an FHA insured mortgage in which ownership is maintained may not purchase another principal residence with FHA insurance, except in certain situations as in relocation outside the commuting area of the original home, an increase in family size, getting a divorce from the co-borrower on the original FHA property, or was a non-occupying co-borrower on the original property.Those are excerpts from the actual FHA manual.  

Requisites of instruments other than deeds.