Depending on your market, you may be able to find a small SFH and get roommates or you could get a multifamily property (duplex, tri or fourplex) and rent out each unit separately.

Purchase price: $120,000 I was the Exclusive Buyers Agent in the transaction.Units were separately metered for water/sewer which was a great plus discovered in DD.The downstairs 2/1 unit was delivered vacant but this was the lowest price/ SF transaction around Olympia in the last 20 months which has great upside on rents and value with it's close proximity to USC and downtown.

Purchase price: $470,000 Cash invested: $10,000 Bought a house in paradise with a separate ¨In-Law¨ suite to collect $1,000/mo What made you interested in investing in this type of deal?

If you're in Cleveland...not so much.So the market really matters if you're looking through the lens of appreciation.If we break it down simply on cashflow, then from the limited information provided, it's highly likely you're going to be bleeding money each month (especially if you're living in one of the units on an FHA).Side question: Can you actually use an FHA on two separate buildings even if they are on the same lot?

Should you build something with separate structures, meters etc in an area where other true multi units exist your odds are better but its all so new so there isn't much data to go by. 

We are leasing the shop/garage separate from the home which already has tenants. 

CA treats each series as a separate LLC for purposes of the $800 annual LLC tax and CA 568 filing obligation...

I have lived in this area for years and not sure that's true.FYI, renters usually pay for these services separately in an apartment complex.

I assume that even the water is metered separately?  

If the tenants paid through the Company B portal, the full rent would've been sent to Company B and what is left between the previous owner and Company A would be separate and irrelevant.