That looks like 2 separate SFRs on the same lot to me, but i had a little trouble opening a couple of the photos.You should make sure that its zoned and permitted appropriately.It wouldn't be considered multifamily in my area, I believe.Your lender would have final say on the financing choices I'd think. 

if there are actual lawsuits pending between owners and HOA then you wont be able to get title insurance and you wont be able to sell it for top dollar most likely.selling it though if you can get top dollar is best U get the 250k tax free.. talk to an accountant before you turn it into a rental.. if you cant get title insurance you may have no choice though.. 

You cannot discriminate against children, but you can certainly discriminate against low income, poor credit and/or poor life choices.       

I know there are plenty of bad locations in big cities but again, at my price point, I don't have as much choice as I would if I were at 1.5MM-2.0 MM.

@Ryan Ward You have to come to the table with $12500.

@Ryan Dossey First i have to say, great podcast.

@Ryan McGrath I think your first concern is to make sure it's a legal rooming house or to understand the steps that it will take to make it one - which I'll bet would include things like extra egresses and a sprinkler system.One incident / phone call / police visit where word gets back to the building inspector and you might find a big red "VIOLATION" sticker on your front door.Next, I'd want to do some forensic accounting. 

Your choice. 

So I’ve finally made the choice that I will not be attending college and rather just work and save up for my first rental property.

Brian is right on; Marvin Integrity is an excellent choice - it's firber glass, which is superior to vinly in many ways.