I’d like to rent out my current home - not sure on renting the whole house out or rent rooms (allowing my brother to rent a room and keep an eye on the house). 

Now, there's definitely room in these numbers to hire a good property manager.

I purchased my first home at 22 years old (5 months out of undergrad) while renting the rooms.

Long-term resident must be present in home at the same time as guests, who may rent up to two rooms.

The in law suite is fully functional as a stand alone unit (kitchen, bedroom, living room, bathroom) and is separated from the unit 1 by an interior door that locks and has its own exterior entry.

@Raj Kissoon You don't have lot of room for HELOC on primary residence. 80%LTV is max for HELOC and few lenders offer up to  80%LTV.

To give more of a visual of my question my primary focus right now is SFR's and I am located in Grand Rapids MichiganThanks in advance -Sam Rockafellow

You become the property manager (your rent payment), your buddies pay per room.

Every time I fill out one for a bank(which never has enough room for real estate) I tell myself that I need to have a spreadsheet that's always ready and up to date.

I have been struggling to find a property using the rule of thumb 70% rule because it seems like the arv and the price on these properties are so close not giving me the room to even consider, so I decided to look at some multi-family properties and found some occupied duplexes with a huge margin for example duplex with 2b1b on both sides in nice area close to schools parks and downtown area fairly new roof and some updates listed for 49k and arv 175k ,fully occupied.