We live in a townhome that has three floors.

The questions you ask indicate very low level of working knowledge in this space.

One of my tenants is currently moving out because they need less space (going to one bedroom from two bedroom) I just had another tenant move in because they needed more space (going from 2 bedroom to 3 bedroom).

Only real potential unknown for me is investing in a non-elevator building and unit is on 3rd floor.

It is a first floor unit with basement.

Less competition in this space.

Basically, instead of testing every outlet and door handle, he is inspecting the larger and more concerning items, i.e. electrical, plumbing, HVAC, roof, drainage, attic space, foundation, crawl space/basement, etc.PM me if you want his info.

It's a 3 unit 129k with a new roof, new windows, new flooring, My mortgage will be roughly 1200/month, if I can rent the other two units for 1200/month, then I live for free and have an extra +/-$1200/month to put away every month as well as the income from my full time job, even at 100% vacancy, my mortgage is lower than buying a single family home and also lower than renting. 

The risk though is that influx of inventory could decrease demand in the area if there is no influx of people wanting to live there.Neighborhood wise, I think it could help bring money into the city with all the retail space but as far as population makeup I think that's definitely a preference.

I'd definitely appreciate the opportunity to meet others who are active in this space and learn from them and expand my network.