You may not include income earned that is not on a tax return, an administrator or PHA may consider additional income in that household, a teenager may mow lawns or receive child support that may influence funds available to that household. 

That photographer is not responsible for the long term profitability if those listings so the Investor really needs to own this process, or at least set expectations.

I’m in the process of trying to find best area to invest a multifamily in, within my budget, but how do I look up or find areas that are renters area or high probability of renters .

You're going to have to accept that this comes with far-ranging consequences, and if your landlord wants you out and has even the least bit of sense, sooner or later, you're going to be hitting the bricks.As you go through the process of finding another place to live, you'll probably find your new landlord is going to want to talk to your old landlord and ask him how easy you are to work with.

Commercial could actually be really interesting for you as you could join one of the established shops to get on a team and start earning right away. 

Specifically, I am in the process of acquiring a 5-bedroom, 5-bathroom apartment with a purchase price of $1.2 million and an ARV of $2.25 million.As I navigate through this project, I find myself encountering challenges in managing my time effectively amidst other commitments such as work and school.

Just call up the planning department and tell them what you told us so you can get proper expectations and clarity on your exact process.

I’ve been doing this type of work for way too long, earning whatever number it is my “boss” thinks I’m worth, and I want a career change that gets me out of the rat race.I want to be around happy people (for the most part) doing something creative, that makes me happy, free and lucrative, one that allows me to be my own boss deciding how much money I make, and on my way to living an essential life with multiple streams of income that include me in Europe, writing stories in my free time.

With that strategy you're keeping more in reserve and earning interest and possibly seeing appreciation.

Run the numbers and you may be better off keeping your money in a deposit account that earns 5% (or look for something even higher) than buying a rental.