The $1200 you are referring to is Gross Rent with owner paying ALL utilities - which is financial suicide with S8 tenants. 

FYI, the City of Richmond has become unfriendly to non owner-occupant STR's.All the best to you in your investment goals.Cheers!

The owners tried to sell this 1.5 acre property, with 5 small rentals plus one main house back six months ago.

I'm not exactly sure if that bill goes to the owner or resident.

Usually for multifamily, it takes a good 6-12 months to stabalize a property and deal with all the left over baggage from the previous owner. 

One of my goals is to get a four-plex and take the rental route + owner occupancy within my area.

My sister had a owner occupant setting fires and the kids getting enough calls finaly got help for he.

Keep in mind that a number of the larger, more expensive units on Okaloosa Island are managed by large vacation rental companies like Vacasa, Southern, etc OR by more sophisticated owner-managers who have their own direct websites. 

But the market du jour is clearly Charlotte, with nearly every owner/aggregator we talked to interested in this market.

@Ran Fridman the main issue most owners run into early on is that whatever tool they are using for accounting isn't robust enough for tax time.