I was born and raised on a farm so it's in my blood.

I believe an FHA loan requires you occupy the property for at least 12 months. while you need to double check this, if accurate, it means at month 13 you could buy another place, FHA insured at 5% down, and pick up a second property. that is a strategy you could implement over a number of years if the math works. as for a multi-fam that allows you occupy one unit, vs. single fam house or even condo, it just comes down to math. there is nothing wrong with having a friend or random occupant rent a bedroom from you, as long as the rent reflects fair market value (so I don't agree that charging a friend rent "could strain the relationship" - unless you're over charging of course). beyond all that, it is absolutely critical, obviously, that you screen your tenant / roommate rigorously - and living with "friends" isn't always a good idea. create an excel spreadsheet of these three verticals, any others I may have missed, with math predicated on what your local market reflects and feedback from lenders and see what it looks like. 

I hope you find (as most do) that Oklahoma gets in your blood and it is much easier to move to than to move away from.

When it comes to tenants the best thing u can do is screen them as best as possible .

What my point is, is that it depends on your current market, it is just a screening rule for a lot of investor so they can look at hundreds of properties and toss the ones with terrible returns straight in the trash can and not waste time with them.Your market has different expenses than the USA and it has different expenses from mine (Canada).

Here are some of the tasks required when managing rentals:Managing improvements (painting when tenants turn over, new carpet installation, appliance replacements, etc.)Screening tenantsCollecting rentTaking all calls from tenants (my toilet keeps running, the garbage disposal doesn’t work, the neighbor upstairs is making too much noise, etc.)Inspections and violation notices (section 8 annual inspections, fines for tenants not putting lids on trash cans, etc.)Collections and evictionsHow do you find the best tenants?

Soon you will know how to screen tenants better and the importance of regular inspections.

A judge couldn't find me liable for not having screens if screens are not required, could he? 

Be pro-active, not re-active.Here's how I screen for tenants.  

I think I made a mistake in tenant screening, but can get better quality tenants in the property.