I've been doing construction and rehab on houses long enough that I have seen the bifold closet doors go from solid wood frame and stiles and hollow core luan-type plywood panels to cardboard frames and stiles and paper overlays.

Where do I start to talk with someone about investing and what would make sense on paper for me to do this deal? 

Through the eyes of the lender and on paper, you can't say you will be moving into the illegal unit when going through the sale process.

If you are working with section 8 voucher’s recipient they most likely not the greatest profile on paper.

While paper equities had a great run in '23, I find the indexes very frothy and reduced out of those as well in my retirement accounts over the last couple weeks. 4 SS facilities sounds like a lot to sell. 

Many of these BTR groups are pitching higher rents to get the deals to cash flow on paper.

Although the idea sounds great on paper, I can not get over the fact that the property is cash flowing so well even though market and rent appreciation has dramatically slowed. 

I recommend you and your partner sit down and put pencil to paper. 

Just because it looks good on paper does not mean its good.  

You say "in mortgage states homeowner owns the home", I would say ON PAPER so called "homeowner" who has a mortgage owns the home.