Will be living in one room and renting out the other two to coworkers.

Now that I'm thinking about it I would think there's a way to shut off the heat to the 2nd floor unit and install electric baseboard heaters in each room. 

Most MFH are sold at such a premium on market that there won't be room for that strategy unless you find something that is vacant and off market.

@Gregorio MartinezDid I read this right your paying more than it’s worth and stuck fixing it up to the tune of twenty grand ?

It seems like there's a lot more room to make money by purchasing a rental out of state, where of course I'd need to hire a local property management company to oversee the day-to-day, etc.Assuming the right property can be found, it can't just be as easy as ballparking roughly 10% of rental income to go to the property management company... can it?

Building a wall and door to enclose the duct work and Hot Water Heaters - $1675Move the hot water heaters from under stairs to new room - $1265Move the washer/dryer from the laundry room under the stairs for tenant upstairs - (cutting concrete to move drain lines and installing new 220 outlet) - $3,520Remove wall in laundry. take out current door and add another door - reframe, sheetrock, - $4,180Create new bathroom with washer/dryer added, new shower/tub, new vanity, new toilet - $7150New kitchen cabinets and countertops - $4,290Move stove - new outlet - $675Replace bedroom ceiling - $715Replace pocket door in bedroom - $300Create master walk-in closet off current bedroom - $775Paint entire unit - $1300This includes labor and materials.

Claims his job is to chase away the sports reporters from the buffet table in the locker room, and says it with a straight face.Man, you are really in such a good place. 

If you must get valley contractors to complete the work you will be charged a premium for travel time both to the project and to the building supply store's, which the closest available stores are in Casa Grande...

I set up a Corp in the fall prematurely (with the intent of private investors) , cost a few grand but now I have it and I can keep it until I’m ready for that.

Rent each room out 1200+/month all bills paid.