If I were to remodel it, in to two additional units would I need to notify the bank? 

I would also echo Thomas s.’s comment and say get the the money to work for you and don’t pay extra on those mortgages, why do the bank a favor when you can earn good money on that cash .

A house in my area, listed for about 130k, needs work, bank will/wants short sell (sale?)...

Hi @Liz White - I'm sure you've discovered this information already, but I wanted to share it with you in case you haven't seen it (directly from the NC Real Estate Commission):"...requirements for an applicant who holds a current real estate license in another state (or U.S. territory or Canadian jurisdiction) that has been on active status within the previous three (3) years and that is equivalent to NC's provisional or "full" broker license." --- view the requirements here.

My bank won’t do loans under 50k AFTER a 25% down payment.

I'm not speaking to you as an experienced investor but I do not think the bank does not even consider the status of the current leases. 

The bank practically gave the house away .

Some will allow you to buy a duplex, but not all banks will.

My interests are in single family homes and multiple family homes that I hold for several years to get a solid ROI before really expanding my portfolio.I welcome your tips and tricks and look forward to learning more from each of you as I submerge myself in this bank of knowledge.

Not fluffy income used for depreciation or some perceived tax benefit. real solid figures you can take to to bank.