This process is quite specific and must be adhered to with strict guidelines, including timelines and the nature of the property being purchased.Another method is the lazy 1031 exchange which is banking passive losses on your 8582 FORM from depreciation on other parts of your grouped portfolio such as several other real estate syndications.

Many investors have full time W2 jobs, myself included.

The issue is, after asking them, my neighbor/tenants will not update their mailing address to include the "1/2", so I am regularly getting their mail and placing it in their mailbox.

Other considerations things to look at include; are any utilities common (like paying for a boiler for all 4 units instead of individual furnaces), how does access/common areas work, do the tenants all have access to laundry, are there any common area utilities (light common area lights, electric or gas for laundry) that would stay in the owner name.  

Be sure your marketing and your application include whether you have a pets/no pets policy; assistance animal policy; ALL adults must complete application and will be named on the Rental Agreement; utility responsibilities; SD requirement; when and how various funds are due (app fee, SD, initial rent, etc).

@Jordan Hanks - Some companies including Evolve Vacation Rentals charge 10% for booking and marketing, with extra fees for cleaning, re-stocking, etc.

The water, gas and electric are all on one bill - so it will have to be a "utilities included" rental. 

+Make sure the headline includes useful details (ex. free parking, dog-friendly, W/D in unit, 3 blocks to downtown) rather than generic words (ex. comfy, spacious, light-filled).

Additionally there is nothing wrong with making would be Agents demonstrate something simple like being financially literate enough to become a property owner before starting a career where they present themselves to the general public as a housing expert.You wouldn't send your kids to driving school if the teacher never drove a car would you?

My view is there is risk in unpermitted work including getting caught and having to come compliant and/or not being able to rebuild if something happens.