Doing MTR inside of your own house is not something I think trends that well.

I work with a property management company in NJ and we see a lot of success with our clients holding long-term rentals. https://www.tvdhousing.com/Welcome to BP! 

After paying a competitive rate for the property management and ASSET management that the small operator does himself.  

If you invest in RE, whether active or passive(management team, syndications, crowdfunding), I'd love the chance to quickly explain the structure and hear your thoughts on what might need to be improved.

Without accounting for management fees (I have not yet decided if I will try to self manage), and with planning to raise rents to typical market of $825 for each of the smaller units, and $1200 for the larger unit, does this seem like a worthy first investment? 

You’ll need to treat it like a business—handling tenant management, accounting, legal compliance, property maintenance, and more.That said, when done correctly, it’s a powerful tool for building wealth!

To plan investment and future rental goals in Albany, research market trends, explore financing options, understand landlord-tenant laws, manage property early, budget for maintenance, and connect with local investors.

Most importantly, learn how to manage it well so you don't squander your investment.

This is a 4-bedroom, 2.5-bathroom single family house.

You can find lots of real estate related resources (wholesalers, buyers, contractors, realtors, lenders, property managers etc.)