I'll definitely need her to partner and owner finance in some capacity and in since I'm not strong with capital (yet), I want to show up as buttoned up as possible.My question is how to come up with a rough sketch of projected operating costs? 

Bottom line - I've seen people with strong opinions both ways and you'd need to have a lawyer research this to get a definite answer.

That's a bad investment decision.Tenant 2 doesn't have a strong background.

So if there is greater potential  appreciation and more cash flow in SFs than MFs, is there really a strong argument for MFs over SFs in SA?

We had the cash and it created a strong offer.

First, there is a strong argument to be made against starting with an LLC - look on YouTube for Brandon Turner's video on LLC or not.

A strong set of data points and acknowledgment as a person who sticks to their model equates a “yes” with something of value to investors and lenders.

My offer was strong too...pre-approved, 35% down payment, large earnest money.

Usual is 3x rent, sometimes you see 2.5X rent.Your idea on deposit besides being illegal would be very bad for your units as there would be little justification in them taking care of the unit.Items that we list as mandatory to qualify for our units: No evictions (ever), Verifiable income 3x rent from sources that are at least present for 6 months, Cannot have been in more than 2 residences in previous 5 years, no missed rent payment on credit report, good credit, non smoking/no drugs, about 75% of our units do not allow dogs or cats, strong LL recommendations. 

Even if this is in a area going through strong gentrification.