One previous landlord reported that he paid rent late four times and that they asked that either he moved or they'd proceed with eviction.  

It may be cheaper to get more loan proceeds.

I personally want to see $300/m above my mortgage, taxes and insurance for a 15 year note and $400/m above a 30 year note 

I graduated college 4 months ago and I started health insurance sales 1 month ago.

My current mortgage balance is a little over $66,000  and my mortgage payment is $663 a month(includes taxes,insurance).

The expenses of running an apartment property include vacancy loss, maintenance, repairs, management, accounting, legal, evictions, depreciation, landscaping, make ready, utilities in common areas, extermination, insurance, property taxes, building code violation fines, permits, usage fees, security, management, leasing fees, etc.  

BP members, Hello, now you all can watch this Stress Test of the screwed up Citizens Home Owners Insurance that we were tricked into.

Depending on who does what work the proceeds could be divided differently.  

This is a legal argument which can be made in a court proceeding. 

If you are looking at a duplex, you would have to live in half in order to pay less than 20% down (maybe 15% some people say, but Ive never seen a bank loan 85% LTV on a non-owner occupied).To answer your question - I would have 4 months of straight mortgage payments PLUS your insurance deductible.