This is typically seen in larger transactions with bigger check sizes but is also complicated to originate because an intercreditor agreement will be required by your lender.

I was not aware that a manual pull station is required, but I've confirmed with the fire department that in mixed-use buildings, a pull station is required that is hardwired to sound an alarm in the rental unit(s). 

That wouldn't require a license, BUT if you do poorly with managing the property you could lose money!

If so, most states require you honor those terms until it ends.

Digitize physical receipts for easy storage.Additionally, youcan track income and expenses consistently, using software or spreadsheets.I use QuickBooks Online for most of my clients.

Most multifamily in our market sold for a 5.4% cap rate in 2023, and that would price it closer to $560,000.Other things to consider for your offer: FHA financing requires you to move in within 60 days of closing.

"If the tenant requires early termination of the lease, rent and deposit are nonrefundable"c.

and is there a way to avoid the withholding requirement?

Does this require permitting?

@Dona CardenasI personally think actually owning physical real estate is the best way to go especially using leverage.