If you do, you should expect a very aggressive challenge by the IRS.At $350K of combined value it might be worth the cost to get a segregation study if you intend to keep these a long time.

People even do this in Vancouver though it must be extremely challenging.  

Quote from @Michael Smythe: We're far from perfect, so our 2 cents should be taken lightly.Most of the national companies are setting up franchises and the challenge is with the individual franchisees.

Major metros pose certain challenges, as everyone has heard. 

Plymouth is an amazing spot to own a rental but making the numbers work is challenging at current prices.

@James Zobrisky Relying on cash flow to fund future acquisitions is a challenging proposition.

Challenges?

In my search, I've noticed that many positions require proficiency in Yardi.I've been actively looking for effective ways to learn Yardi, but it seems challenging to find suitable training or courses online.

I was hoping someone might have some experience in this market to know how challenging the process would be to obtain the permit.Thanks for your input!

I wholeheartedly believe in the end you will come out ahead, but you must be prepared to weather potential storms with the strain of limited to no cash flow, which can be challenging.