Because commercial loans are often shorter than residential real estate the equity you're generating with the monthly payments can be significant.Sorry, I got carried away.  

However, @Mike D'Arrigo makes a good point with needing 20 homes that will carry you well over the 10 mortgage conventional max.The net result is that if I were in your shoes I'd be evaluating what a good first investment is for the $100K. 

I'm curious how much of an adjustment do you make for that, knowing your exit strategy has to be to keep it as a rental or sell it to a cash buyer or carry the contract yourself?

But I've merged the two approaches now to think "how can I afford that without going into debt to get it" (even if the debt is considered "good debt").The problem with "good debt" (borrowing money at a low rate of interest and investing it at a high rate of return, also known as the "carry trade" or "leveraged investing") is that when the world goes through an economic calamity, the high rate of return comes to a halt, but the low rate of interest on the borrowed money continues to be owed (based in my experience with a HELOC used to finance various purchases of income-producing assets over the years).Also, if the asset used to secure the borrowed money goes into free fall, the lender sometimes has the right to reset the loan (in the stock market, this is known as a "margin call").

That sounds like it could be a good cautionary post if you wouldn't mind writing it up and posting pictures of the carnage.On the rent payment, I suspect it would depend on if there was proper notice from the tenants of the move-out, and since they did carry over possession into the following term it may just be a wash in terms of the Section 8 portion, as others have said.

Very true, which I will be carrying, do I not need an entity for a MF purchase?

Will be spending part of Easter Sunday mowing the yard myself since I'm capable and want to keep carrying costs to a minimum! 

Do the gains (tax owed) from Prop A keep carrying forward to subsequent properties as long as we follow the rules & invest up?

That's fine too, but what is her objection to paying you rent as her form of carrying her own weight?  

Tenants are happy because all the locks work with their one key and I'm happy because I can always open every door for any property, with 1 key that I already carry.