@Stuart Udis I understand the importance of having the funds for repairs, vecancy and any issue that may happen.

You're going to lose your loan from what I understand.

If they understand they need to leave and discuss honestly what they can do to make that happen then you are both working to the same end.

You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.

From my understanding, it might be more advantageous to refinance as a rental property at a lower LTV with income from two units, rather than as owner-occupied at a higher LTV with only one rental income considered.

So you can understand why I was blown away to see prices half that or less with rents 1500-1800 in Duluth.

Also know that you can't necessarily trust the NOI as presented, you must, must, must run the numbers.Here's a good link to start understanding the basics:http://www.noneman.com/pdfs/White_Paper_Cap_Rates....

This does not involve the utility company meaning that you will still have to go into the property, read the meters, then individually bill each tenant for their usage and understand the bill is still in your name.

From what I understand, a 1031 exchange doesnt apply in this case, and so I will have to pay short term capital gains on the appreciation ?

As long as I understand the risk and mitigated the risk with sound exit strategies, I can let people live in my properties and I haven't had any losses yet.