Since this approach relies primarily on true documentation rather than estimates, it is typically the most accurate.

Perhaps you could also purchase a duplex, for example, and use personal funds for the portion that you can live in and 1031 funds for the investment portion.

Renting out the property for less than 180 days in the first year is typically one of those conditions, as you've mentioned.

This fee is typically a fraction of the amount of a traditional security deposit.Coverage: The surety bond provides coverage for the landlord in case the tenant fails to meet their obligations, such as unpaid rent or property damage.Claims Process: If the landlord needs to file a claim, they submit documentation to the surety company.

Expect rates to be higher than "typical" financing programs - right now, I'd plan for at least 8%+ depending on the whole scenario. 

I'm not saying you'll be working a lot all the time, but you'll regularly have late-night questions from people checking in, for example.

If so is there a typical investor profile? 

Other KPIs and considerations you should evaluate when talking to any lender who offered private placement of loans/notes are historic default rate, how quickly they can place your funds (do you get preference over their income funds, for example), average interest rate - borrower note rate and what is passed through to you, are loans serviced by a 3rd party servicer or in house.

Small businesses are typically valued at a multiple of SDE.

Without accounting for management fees (I have not yet decided if I will try to self manage), and with planning to raise rents to typical market of $825 for each of the smaller units, and $1200 for the larger unit, does this seem like a worthy first investment?