@Kwok Wong With limited exceptions its customarily the lower tier neighborhoods that present both BRRRR and cash flow.

Make sure you get him/her on your team.I believe in multiple partners on a business like this since (except for the alumni friend who actually might not have that much experience), y'all have no experience.

There might be Some exceptions such as you did a bunch of repairs/improvements which increased the value of your home .

Of course, there are some exceptional cases where the seller might consider it.

Greenville SC allows density exceptions for hotel to multifamily conversions that have 20% of the units used as affordable housing for at least 25 years, or 30% of the units as affordable housing for at least 20 years.

I was wondering if anyone here have a clause they use to bill the tenant the sewer utility as some form of additional rent.You should have in your lease that the tenant is responsible for all utilities (this would include sewer even if it has to stay in the owner's name)  Sewer bills come out once a year here (except some Town municipalities where they are billed monthly)  We add them to the tenant ledger and the tenant reimburses.If that isn't spelled out in the lease you'd need an addendum to include it or do at renewal. 

My experience, ability to deliver above satisfactory results at an exceptional period of time brought a much appreciated and high value to the deal.

You can acquire your a primary residence from up to 1-4 units for as low as 5% with conventional or 3.5% FHA with a few exceptions.

Dave Ramsey seemed to think that real estate should be paid off except your house.  

As a non EU citizen, I will need a permit to purchase certain types of properties, except for residential (unit in an apartment).