Other side same size needs approximately 30k in rehab and will rent for $825+.  

I would suggest making sure that you have a unit that has a nice sized yard that you could section off with a fence and have access from your unit. 

I'd say it really depends on the size of the property.

Started with a condo unit and now i have 3 all paid off and a decent size of land close to the new airport that they are currently building.

Leases are NOT one size fits all.  

Large utility room with space for shelving and full sized washer-dryer.

The upstairs is being rented out for $1,000 per month. 2) Zillow says it's worth around 201,000.3) If I stayed in the bottom portion and raised the rent of the top half of the building to 1,200 (based on the competition in the area, I would be able to get this easily), I think I would be able to pay the mortgage pretty easily.

.- Depending on size of the property, scope of the work, and how much rehab you're willing to do, you can always consider individually submetering each unit.

Other things we would like to consider are pet type and size (we accept pets), references, income etc.. 

What portion of the $500k is capital gain (or exempt from gains if this was your personal residence)?