I'm not sure why - but he chose to appear in court to fight the eviction - the attorney assured me he has nothing to stand on and the "trial" is set for this coming Monday - curious as to whether or not he shows up.That being said I'm from the midwest and most people in KS and in general in states touching us operate different than other places - we can still at times do business on a handshake and a man/woman's word. 

Also, if it's your first landlording experience it'll be trial by fire for sure - low end property management is not for the faint of heart.

You could read 100 books and still need to learn more because certain things must be learned through trial and error.

Have you known this # for a while or has it taken you years to figure it out through the trials and tribulations?  

What you just described is a variation of what I refer to as a perfect system.  

One of our main goals is for our passive income to support a trial period for a riskier non-real estate business that my wife wants to run. 

The 5-6 room SFR still would be valued using comps as a regular SFR and financed as a typical SFR property though.I'd say about 10-15% of buy and hold investors do this or a variation of it.1 example would be one investor I know buys SFR's with 5-6+ rooms and splits the rooms for international students.Another example is a investor/contractor that builds 10 room rehab homes. 

Even though @Scott Trench improved the post with more levels of variation and clarity (and taking age into account), now we can find other areas left out: such as cost of living

At 100% financing (or some variation on that) your cash-flow is much less.  2.)

Then you are off to the races you want to run.When I read a variation on the "hate my job and I want passive income" I always think...so what?