Would the units be similar to your current property, or would it be lower quality?

HOW TO SHARE UTILITIES 101You have a property with two or more units and the utility meters are shared.

I need help with updating the existing site paln using the new floor plans, look at the possibility of adding couple more units. 

I am very new to REI and would like to know if this is a great opportunity to buy in an up and coming area or if the residential properties will negatively impact my ability to rent out my other unit.

There's also potential for developing "shared living" units where 2 or more people could share space, etc.

Within a year my wife and I acquired four multi-families properties with a total of 20 units, and eventually another building to rent out (currently a bait and tackle shop) as well as an Ice House.

I have a 3 bedroom, 2 bath unit built in 1975 about 1200 sq feet and just finished remodeling the 2 baths.

But, could I minimize risk of renter defaulting on payments for the 2nd property by turning this property into a section 8 housing unit with guaranteed income from the gov't?

Building small units in low unit count is expensive.

The only way to do it with multifamily is to buy an uneven unit (one big and one small) and leave the small unit vacant for a year while "living" there.