Quote from @Daniel Mendez: My policy is to set standards and apply them equally to everyone.

However, if I lived in the units, the total rental income would equal $850 leaving me with a monthly payment of $350.

I'd say for the long term, a duplex will be appreciating more than a SFH (all things equal).

Many will go into bankruptcy, people will be laid off in droves.I was visiting Thomas Jefferson's farm in VA a few weeks ago and learned that while he wrote "all men are equal" into the Declaration of Independence he also had 650 slaves working his lands.

Assuming the property is equally owned 4 ways (25% each) you could have the property appraised for confirmation of value: $1.8M/4 = $450k/share x 3 = $1.35M could be obtained as a cash out refinance, potentially utilizing a healthy portion of the STR or projected STR income to qualify. 

Keep in mind it probably won’t be an equal split, because the person with the money is taking most of the risk.

Not all Jumbo, DSCR or zoning types are created equal. 

If they are VERY professional, they will have their processes in writing as verification that policies are enforced equally and fairly by their entire staff.6.

of course you have to handle the inquiries… but it’s pretty easy… we’ve done it multiple times.Your 6% appreciation approximation is less than the 7% average return the stock market  does long term - and lately it has been blowing that figure away - though as they say - past performance doesn’t equal future performance. 

With this methodology, high real estate prices and high turnover in properties do not equal A neighborhoods.