You will have already positive cash flow here if you are not in overpriced market of course :))) and repeat it every year or two :))) it would be my strategy if we would start over :))) your w2 will help you to get an access to cheap long money (low interest, 30 years fix).

Obviously genuine 'private money' would work, but so far I haven't been able to access any.I am going crazy, as time after time I see great deals go begging - e.g.

I can fund deals via my IRA now, I have check writing abilities and very easy to access money quickly.  

Are there other resources that only certain people have access to?

To answer your question John I did not have access to the inside of the prop so there was a risk taken there.

Bedrooms and bathroom upstairs, and living room, dining room, kitchen and laundry on first floor, and access to basement.Building needs some repair since its old, but being that its fully rented I assume there aren't any major problems or it would not have passed inspection.Mortgage on it was taken out for 118k back in Dec. 2011.City taxes are $7273 annually and school taxes are $5510 annually.For the attached building:a mortgage was taken out for $27700 back in April 2010.City taxes are $3602 annually and school taxes are $3322 annually.So I was thinking of buying both to have 6 units and a commercial space to rent out for a convenience store or something of the sort.

The front neighbor has access but his door opens to the side of the house which is very narrow.

I also have access to properties and listings before they hit the market.

In every case I can imagine, you will have better access to financing (lower rates, less money to be put down, easier qualifications, etc) if you occupy the property yourself.3) Tax advantages.  

@Justin HerringtonWhile Thorold does not give a maximum occupancy per dwelling unit in a direct manner, it appears to define any building providing lodging to more than four (4) occupants as a boarding house:“boarding house” means a building in which lodging is provided for more than four (4) persons in return for remuneration or for the provision of services or for both and in which the lodging rooms do not have both bathrooms and kitchen facilities for the exclusive use of the individual occupant;In turn, they restrict a rooming house or lodging house (but never marry definitions to that of the boarding house) as follows:Where a dwelling unit contains rooms intended to be used in conjunction with a rooming house or lodging house, the occupants may share a single bathroom provided that: (1) not more than nine (9) persons occupy the dwelling unit; (2) for each additional nine (9) persons or part thereof, there shall be an additional toilet, handwash basin, bathtub or shower; and (3) access to the bathroom can be gained without passing through: (a) a habitable room of another dwelling unit; or (b) an open area, which is not normally heated during the period of the year which heat is required by article 2.22.3 of this by-law.So, it appears to come down to whether boarding houses are permitted where you property is located (and whether they need to be specifically licensed), unless your building would be seen as a non-conforming duplex.This is the question, I believe Thomas was asking.