Thus they would count against my profit and loss statement?  

If you set it up for "first come, first serve" you will create a cattle call that defeats your goal.

Matt, as I recall, the HUD site has the legal/acceptable room occupancy on a table illustrating square footage and volume requirements (like average ceiling height of 7' for floor space to be counted).

You may be the fortunate guy who has low expenses over the long run but counting on that is going against the statistics. 

Now, character counts, and decisions matter, but some folks get rich and some folks become poor simply because of luck. 

And don’t worry about me not being able to afford it, as I’m a veteran and will be using my gi bill while in school, so I’ll still be getting income while I’m in school, however this income isn’t usable when banks actually count income, even though the money is being directly deposited into my bank.

While it's difficult to accurately predict when a recession will show up, we can certainly count on history to repeat itself. 

It turns out we discovered the depreciation was only being 50% counted as that's how it was the first year because we lived there half the time.

4) By buying a 4-plex, at least 75% of the FUTURE rent collected in the other 3 units will be counted as part of your income. 

Count the days off on your calendar.