I will split a giant master room into two smaller rooms and will convert the living room to get the additional three rooms.

Whether you pay 1 point, two points, or three points or your rate is 10% or 12%. 

Must meet self sufficiency test for 3-4 units on FHA though, which alot of properties in higher cost areas do not meet.Conventional allows 5% down on 2-4 units.

The three units you are renting out are investment properties, if they were put into service this year then you can deduct your expenses on them, but not on your unit.

In California, a Will alone is usually not sufficient to avoid probate. 

I'm building three ADUs currently in CA and looking at investing out of state, possibly in Macon, when I'm done with this project.

I figure the upside to the rental scenario is, of course, investing in multiple properties, while a downside would be having to most likely get a conventional loan on the second house with 20+% down and proof of sufficient enough financial reserves to handle two mortgages. 

I've crunched the numbers and if I could purchase three four-plexes in the next ten years, that would give me the financial independence I'm looking for."2.

I'm absolutely not interested in leasing fast at all and I'm extremely picky about tenants and I do things like require a large security deposit (even for section 8 renters, I have three of them and love them), don't supply appliances, take my time doing background checks and arranging multiple calls/meetings with potential tenants. 

We closed and the Dundee property was listed for rent late August.105 days of vacancy, three rent reductions, and two PM teams later, I’m stuck with an unrented property that, once rented, will cash flow negative each month (and that’s excluding the cost of the 100+ days of vacancy).I later learned that the initial PM team I was paired with actually did not have any experience with RTR.