Lenders will use your tax returns schedule E to calculate your monthly rental income.

If not, better to get an easy one for the first one.....And don't worry too much about the interest rates. they are still pretty low (historically anyway, I won't even tell you what they were for my first house :-)The numbers just have to work, and they can work with even higher rates.....there are other variables, including the perceived high rates keeping a lot of your competitors out of the market.

Almost everyone here on BP will tell you that they wish they had started earlier, myself included.4.

This includes family vacation homes, business property, etc.  

And that's not a sarcastic question, possible answers include but are not limited to...If management/ownership has been lazy and there's a lot of vacancy or below market units, that you can rent out and/or bring up to current market, then maybe you offer a little bit more for that upside potential. 

There are lots of basic calculators online, including right here under the 'tool' tab at the top to help run numbers to see if the deal makes sense.

Would it all just be mostly the same: general background check (including prior evictions, lawsuits, etc), credit check, income verification, landlord references?

I ran a quick Realtor.com search and found this recent multifamily sale in Ontario - https://www.realtor.com/realestateandhomes-detail/319-E-Park...If most properties are trading along this price range, you may want to run projections for future appreciation using conservative number.

It sounds like you went to the wrong mall in Houston you should check out the Galleria next time, there seems to be over a thousand people there when I visit and like 3 floor levels of ppl including ice skating. 

Can you email me the details of your deals?