Not car note money.  

One option is to pay down any existing debts (credit cards, car loans, etc.) to free up income capacity.

Quote from @Kevin Lorick: This is completely normal.

If you don't have the downpayment, go make some cash so that you do, either through saving from your normal income or some real estate investing efforts.Your point on debt paydown, although true, is not relevant to the argument of BRRR vs. traditional rental.

I just way overpaid for my car. 

I just have never heard of this kind of experience and am wondering if others have run into any debacle like this. title company checks normally dont get held I know mine never do.. last year when first american got hacked I had closed a deal and had a nice size proceed wire due and it took 6 or 7 days for FATCO to get the wire out to me..

Problem is only "RE pros" get to do it.There are 3 income classifications in the US - Active, Portfolio, and PassiveActive income is income derived from your job, or normal trade or business.Portfolio income is derived from bank instruments - stocks, bonds, etc.Passive income is income earned from investments.Active losses can wipe out both passive and portfolio income, but it doesn't work the other way around.Portfolio (capital) losses are limited to $3,000 annually.Passive losses can only be offset by passive gains.Real estate rental income by its nature is deemed passive per IRC Sec 469One way to get around it is to become a pro - spend more than 750 hours or 1/2 your time in real estate.But most folks aren't real estate pros.

And anytime you have that cheap of lots that are buildable you can get a building boom that will far surpass normal absorption liike what we are seeing now or saw what 3 years ago  or so.. builders / GCs taking on 50 jobs at once with no hope of ever being able to deliver simply not enough subs and such to keep up.  

For a $1,500 rental, the prorated rent is normally $50/day.

Outside of normal deal analysis (market info, cashflow, etc.), are there any particular upsides or downsides of purchasing all single bedroom units vs. a more traditional mix of units for a property that size?