But I've merged the two approaches now to think "how can I afford that without going into debt to get it" (even if the debt is considered "good debt").The problem with "good debt" (borrowing money at a low rate of interest and investing it at a high rate of return, also known as the "carry trade" or "leveraged investing") is that when the world goes through an economic calamity, the high rate of return comes to a halt, but the low rate of interest on the borrowed money continues to be owed (based in my experience with a HELOC used to finance various purchases of income-producing assets over the years).Also, if the asset used to secure the borrowed money goes into free fall, the lender sometimes has the right to reset the loan (in the stock market, this is known as a "margin call").

That sounds like it could be a good cautionary post if you wouldn't mind writing it up and posting pictures of the carnage.On the rent payment, I suspect it would depend on if there was proper notice from the tenants of the move-out, and since they did carry over possession into the following term it may just be a wash in terms of the Section 8 portion, as others have said.

Very true, which I will be carrying, do I not need an entity for a MF purchase?

If site is incredible and best for the area but does not meet all of their layout criteria they might manipulate building size or layout to fit the site.If site and location is a choice among many and does not line up well with their site criteria and plans with hurdles to overcome they might pass on it.Sometimes they can talk to you directly and other times they will pass it on to their tenant rep broker to scrub the site further and then if it still looks good the tenant rep broker talks to their client the company and then they contact you to discuss further and a possible LOI.It's not how they all work but typical from what I have seen.    

Will be spending part of Easter Sunday mowing the yard myself since I'm capable and want to keep carrying costs to a minimum! 

Do the gains (tax owed) from Prop A keep carrying forward to subsequent properties as long as we follow the rules & invest up?

That's fine too, but what is her objection to paying you rent as her form of carrying her own weight?  

Tenants are happy because all the locks work with their one key and I'm happy because I can always open every door for any property, with 1 key that I already carry.

Title company carries an insurance that will pay for errors.

My goal was a duplex, or some sort of MF. and I told the realtor I wanted an owner carry as well.