So a lot of duplex’s and even some apartments are really run down, giving the investor more opportunity to raise rents if it’s rehab’d properly.

So maybe getting a C class property in a B or A class neighborhood is the way to go so you can over time improve the property and raise the value.

I love being a private lender but the fact that it simply increases my taxable income makes me consider shifting some of my note portfolio to multi-family perhaps...You might find this discussion beneficial where similar question is raised: https://www.biggerpockets.com/forums/51/topics/604...Owning notes in your retirement account (especially self-directed Roth IRA or Roth Solo 401k) is ideal since you can have tax-free income for the rest of your life if you utilize one of these vehicles. 

We have no formal lease agreement and I don't raise rent as this is kind of a hybrid situation. 

Being close to the village OR being pet friendly OR having a view all tend to raise gross income, but not sure if it really raises return as those units all sell for higher prices.

it’s a mom and pop deal they   literally have not raised the lot rent in 15 yearsTheir Son is selling it I was in Negotiations with them but backed out after getting your guys advice Thank you to everyone that replied  

For qualification they include usually minimum payments on credit cards etc not the principal.If you're really low income, maybe it's better to find a lender who does "stated income" but there need to be proof: bank statement etc.I'd try another loan officer, maybe mortgage broker who would search for different options.Take a look at the topics here: there were explanations how Rental income would count and @Chris Mason even referred the source where to get the info first hand

We have only used private money to finance 100% of our previous deals.We do have the ability to fund the rehab, but philosophically it is not our preference to tie up that much cash, for what in this case will be a longer rehab.We also have the ability to raise the $100K from either another source 100% or a few different sources participating with $50K a piece.My question is this -- since we have previously raised all of the funds used on a project from a single source, we have been able to secure their investment with a first lien/ deed of trust. 

You can forget about maintain the home if you rent including the possible capital expense items that may happen before you raise your reserve account used to save part of your rental fees plus you will eleminate travel expenses to keep up with its maintenance and possible capital expense repairs. 

(Business cards, licenses, tool trailers, equipment, etc.)