We got an FHA loan on it and since my wife is a realtor, we got 3% right back, so we put very minimal down.  3 of the 4 rents equal PITI so we'll live there for a year then move out.  

I am glad to report that so far 2016 is equally drama-less, only with slightly higher rents.

It's best to have set rental criteria for your applicants and apply this criteria equally to all applicants. 

I get that a 4 plex that each have 1 bedroom would equal 4 units.

It seems like you were suggesting to take the extra money I have left over that was set aside for the mortgage, and do something with it to at least earn a return equal to my mortgage rate (4.375%)?

At Spartan, we charge a flat property management fee equal to 9% of the annual rental income (lower than many leading TK companies), as well as a leasing fee equal to one month of rent for each new tenant.

I would have to purchased something of equal value or higher to do that.

I tell them to just make a donation to their favorite charity equal to what their mortgage deduction would have been.

You came to the right place to expand your knowledge and Network... you know they say your Network equals your Networth.Let me know if you are looking for any new properties to invest in.

Price does not equal Cost.