Could someone please give me any advice on finding ARVs for smaller non commercial multis. 

The IRR is low, and the cap rate is below my threshold (although cap rates aren't generally used for non-commercial properties, it is still an interesting metric to consider).

For the 1-4 unit non commercial properties will appraisers typically use the income approach? 

Below is a comic that is part of a book I will publish later this year on investing which depicts my opinion of buying for future gain.On Strip investments: The majority of non-commercial strip investments are high-rise condos.

I believe they insure properties under LLCs as non-commercial insurance.

Different banks have different products but generally, 4 and under is residential non commercial loan while 5+ is commercial.

@Sara Walters You will be on the hook for the PITI of your home, at least for a non-commercial loan. 

The assets are 1-4 units of residential, so non-commercial loans. 1.

(Houses were still considered temporary in this way in Japan until very recently, and in medieval Europe, most peasant housing was also temporary and rebuilt on average every 30 years, so this isn't really a strange thing.) 

If you have a below market rent for a good tenant, but have to place a new tenant that inherits the rent base of the existing tenant then you are supplementing a new tenant of unknown quality.In part due to rent control, reduced rents even on non-commercial MF (4 units and less) does affect the value of the property if you need to exit for any reason.