IF there are down payments or rehab costs then create a separate pivot table to recoup your initial costs within 5 years and provide yourself a reasonable interest amount while paying yourself back.

Emotion of any type is badDon't get excited about deals or disappointed when they don't happen. 

Secondly, this is separate from the original question, but do I really need a business plan?

Should I be looking at these as separate properties using Comps or judging them by the income like a commercial prop?

Listings typically break out if the gas is separate and yes you will see multiple meters.  

@Scott Costello Thanks for the info, and I communicated with Trevor - there's certainly a larger separation between Investor Carrot and Generation Web (the SEO provider), than it appears at first glance. 

If you need emotional support, tell tenant(s) you have a partner ( could be your cat, etc.) and do not try to explain.

He kept that separate so that if it all went bad, he would still have that.Just a thought.Now onto your scenarios.1) I am a huge fan of 2-4 unit properties.  

It is a 6 bed 3 full bath single family residential home with two separate "units" (3 bd 2 bath up & 3 bd 1 bth down).

I'm excited and keep reminding myself not to get emotional and think logical so I don't get into something that doesn't cash flow positively.